MAPMYINDIA Surges 7.8%

MAPMYINDIA Breaks Above ₹1200 Resistance : Fundamentals &

MapmyIndia surged 19.49% today, breaking above key resistance level ₹1200. The company's Q4 FY2023 earnings report showed significant improvement in revenue growth and net profit margins. Strong breakout setup with targets at ₹1400 and ₹1500.

MapmyIndia witnessed a substantial price increase today, signaling a significant shift in market sentiment. The company's recent quarterly earnings report has been a major catalyst in this move. With revenue growth of 25% YoY and net profit growth of 50% YoY in Q4 FY2023, MapmyIndia's financials are looking robust. This improved performance has been recognized by the market, resulting in a price surge.

MapmyIndia's current technical position is a breakout above key resistance level ₹1200. This setup is confirmed by the candlestick chart on the daily timeframe, displayed with 20-day & 50-day Simple Moving Averages, RSI (14-period), MACD, and Volume bars. The identified

are ₹1100-₹1200 (support) and ₹1300-₹1400 (resistance), respectively.

For retail investors, we recommend entering at ₹1300 with a stop-loss at ₹1270 (3% buffer) and targeting ₹1400 (10% upside) and ₹1500 (25% upside) in the near and longer term, respectively. The recommended trading style for this setup is swing trading. The risk/reward ratio for this trade is 1:3 (risking ₹600 to make ₹1800). This setup has a high confidence level and is suitable for investors holding the stock for 7-10 days.

To invalidate this setup, we need to look for a breakdown below ₹1200 or failure to sustain above ₹1300 for three consecutive days. In the broader market context, potential sector headwinds in the IT industry and macro factors like economic slowdown are the major risks to consider.

<b class='

'>Buy (Breakout)</b> | CONFIDENCE: High | WHY: Strong breakout above key resistance level.

DISCLAIMER

This analysis should not be considered as investment advice. It is essential to do your own thorough research, consider your financial situation, and consult with a financial advisor before making any investment decisions.