The stock of Swiggy, which has been on a long-term downtrend, started stabilising in May. That is, the downtrend lost momentum and the scrip was largely moving in the sideways band of ₹235-280. But this week, the stock has gained nearly 18 per cent so far, leading to the breakout of the barrier at ₹280.Video Credit: BusinesslineThis is an indication of a bullish trend reversal, at least for the short-term. Supporting the positive bias, the 21- and 50-day moving averages have seen a bullish crossover. Therefore, participants can go long now at ₹295 and buy more shares if the price drops to ₹270. Place stop-loss at ₹232. When the stock rises to ₹330 and ₹360, revise the stop-loss to ₹300 and ₹340, respectively. Book profits at ₹380.(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)Published on July 31, 2026