Swiggy share price has been on the uptrend the in the last week as its outlook improves on the back of strong forecasts by leading market analysts. The stock has risen by 10.5% in the last five trading sessions, and closed Thursday’s session at Rs 364 and up by 0.39%. The bullish momentum has driven it to fourteen-week highs, above key moving averages.
As of this writing, Swiggy share price RSI is at 61 on the daily chart. In addition, the ADX on the same time frame is at 52, affirming the upside view. Investors are upbeat after brokerage giant, Morgan Stanley started covering it and gave it an “overweight” rating with a price target of Rs 405. That infers an 11% growth head room from Thursday’s close and underlines its growing presence in the Indian food delivery market.
Morgan Stanley forecasts that Swiggy’s business will grow at Compounded Annual Growth Rate (CAGR) of 15.8% between 2025-2028. However, despite its recent gains and improved outlook, Swiggy share price is still down by 33% year-to-date. In addition, it trails the Sensex Index, which is up by more than 4% YTD. That is a disincentive to some investors, who are likely to get more rewarding opportunities elsewhere in the near-term.
Swiggy Share Price Prediction
The momentum on Swiggy share price calls for further upside above the pivot mark at Rs 360. With the buyers in control, the upside movement will likely meet the first resistance at Rs 370. However, a stronger momentum will clear that barrier and could extend gains to test Rs 377.
On the other hand, going below Rs 360 will signal the onset of bearish control. That will likely see the first support established at Rs 355. The upside narrative will be invalid if the price breaks below that level. In addition, such momentum could extend losses and send the stock lower to test Rs 348.
The post Swiggy Share Price Prediction: Rs 370 Support in Sight As Outlook Improves appeared first in UK on InvestingCube.