MMYT Should I Buy
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MakeMyTrip is not a clear buy right now for a Beginner investor with a long-term mindset, despite a constructive analyst backdrop and bullish options sentiment. The stock has strong upside potential over time, but the current technical setup is stretched and the recent analyst price-target cuts show that expectations have come down. Since the user is impatient and does not want to wait for a better entry, I still would not call this a buy at the current level; a hold is the better call.
The trend is positive but overextended. MACD histogram is 1.359 and expanding above zero, which supports near-term momentum. However, RSI_6 at 88.694 is deeply overbought, suggesting the stock may be too extended for a fresh entry. Moving averages are converging, which often signals a transition phase rather than a clean breakout. Price is trading near resistance, with R1 at 57.02 and current price around 58.66, while the next key resistance is R2 at 60.19. The short-term pattern data also leans cautious, with a higher probability of a small near-term pullback before any stronger monthly move.
["HSBC initiated coverage with a Buy rating and $70 price target.", "Citi and Goldman Sachs still maintain Buy ratings despite lowering targets, showing Wall Street remains constructive overall.", "Options flow is bullish, with very low put-call ratios and call dominance.", "Recent analyst commentary suggests medium-term growth remains intact.", "No recent negative news in the past week."]
["Goldman Sachs and Citi cut price targets, signaling softer expectations.", "RSI is extremely overbought, making the stock vulnerable to a near-term pullback.", "Analyst notes mention demand headwinds, INR translation pressure, geopolitical impact, and AI disruption concerns.", "No recent news catalysts are available to confirm fresh upside momentum.", "No insider buying, hedge fund accumulation, politician activity, or congress trading support is visible."]
No usable latest-quarter financial snapshot was provided due to an error, so I cannot assess the most recent quarter directly. From analyst commentary, however, the company reported adjusted EBIT of $46M, which was 2% ahead of estimates, with constant-currency gross bookings growth of 5% year over year and adjusted revenue growth of 13% year over year. Citi also expects continued quarter-over-quarter and year-over-year growth in the near term. The latest quarter season is not explicitly stated in the data provided.
Analyst sentiment is still positive overall, but target prices have been drifting lower. HSBC initiated Buy with a $70 target. Citi lowered its target to $70 from $80 while keeping Buy, and Goldman Sachs cut its target to $80 from $117 while keeping Buy. Citi also previously reduced its target to $80 from $96 and said the shares looked quite cheap after the correction. Overall, Wall Street pros remain bullish on the business, but they are more cautious on valuation and near-term growth than before.
