Retailers are trapped in Paytm Share. Now What's Next ?

As we know last year was the year of IPOs people have earned well in IPOs listing but one of the famous IPO listings has trapped the retailers badly and the name of that IPO is PAYTM. 

From the first day, all retailers are badly trapped in it as the issue price of PAYTM is Rs 2150 whereas it listed on Rs 1950 on 18th November. On the first day of listing it closed on Rs 1560 means Rs 590 loss per share from the first day. That is the reason all retailers who are expecting the premium listing are trapped.

Now, what will the next for retailers? Paytm current market price is 1231.6 as of 07-01-2022. In this week it is down by 7.68%. Now Paytm has broken the Very strong support of Rs 1300 and for the next few days, there is only one support that is Rs 1200. Up to when it does not break then still a hope to regain but somehow if it breaks then it will difficult to find next support easily as per today's analysis.

If it has to regain its strength back then first of all it has to break the resistance level of Rs 1300. It will be strong bearish up to when it is working below the level of Rs 1300.

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Disclaimer: This Chart Study is based on the theory of technical analysis and personal observations. This does not claim for Profit & Loss. 
We are not responsible for any profit or losses made by traders and investors. It is only the outlook of the market with reference to its previous performance. 
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