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News Topical, Digital Desk : The stock market closed with significant weakness on February 27th, raising the possibility of a deeper decline on March 2nd. In such a scenario, market experts have advised selling IndiGo shares. On Friday, the airline company's stock closed at ₹4,827, down more than 2%.
Market expert Abhishek Bhatt said that Indigo stock is now showing a weak structure after slipping from recent highs. A lower high-low low pattern is beginning to form on the charts, indicating a change in the short-term trend.
Trends and Moving Averages in Indigo Shares
- The stock is trading below its 20-DMA, which indicates weakness in the short term.
- If the 50-DMA also breaks down decisively, bearish pressure may increase in the medium term.
- The 20-DMA may now act as near-term dynamic resistance.
Support and Resistance
Resistance zone: ₹4,900–₹4,950
(Supply has come before here, shorting opportunity on pullback)
Instant Support: ₹4,750
(Below this, ₹4,600–₹4,550 could be the next downside target.)
What are the indicators saying?
RSI (14) is slipping below 50 – momentum is weak.
MACD has recently given a bearish crossover.
Increasing volume on declining days may indicate distribution.
Potential short strategy (from a trading perspective only)
- Consider short entry on pullback in the range of ₹4,880–₹4,930
- Stoploss: Close above ₹5,020
- Target: ₹4,600 and then ₹4,500
Currently, the charts indicate that IndiGo is facing turbulence – and unless there is a strong breakout above ₹4,950, the trend will remain weak.
Read More: US Market: US markets saw a sharp decline, AI tensions weighed on investors.
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