Swiggy Ltd Gains 2.80%: Intraday Strength and Open Interest Surge Mark a Mixed Week

2 February 2026: Week Opens on a Weak Note

Swiggy Ltd began the week at Rs.307.60, down 1.13% from the previous Friday’s close of Rs.311.10. This decline was in line with the broader market, as the Sensex also fell by 1.03% to 35,814.09. The stock traded on relatively high volume of 1,912,528 shares, indicating active participation despite the negative price movement. The initial weakness set a cautious tone for the week ahead.

3 February 2026: Intraday Surge and Open Interest Spike

On 3 February, Swiggy Ltd delivered a standout performance, surging 3.23% to close at Rs.317.55. The stock hit an intraday high of Rs.328.35, marking a 5.09% gain from the previous close and outperforming both its sector and the Sensex, which rose 2.63% that day. This rally was driven by a gap-up opening of 4.11% and sustained buying momentum throughout the session.

Simultaneously, the derivatives market saw a sharp 10.18% increase in open interest, rising by 3,054 contracts to 33,068. Futures volume was robust at 17,123 contracts, with a combined futures and options value of approximately ₹4,218.6 crores. This surge in open interest alongside elevated volume suggests fresh positions were established, reflecting heightened speculative interest and repositioning by traders.

Despite the strong intraday gains, technical indicators remained mixed. The stock traded below all key moving averages—5-day, 20-day, 50-day, 100-day, and 200-day—signalling a prevailing bearish trend. The weighted average price indicated more volume near the day’s low, hinting at some selling pressure amid the rally. Delivery volumes also declined sharply by 25.36% to 69.69 lakh shares, suggesting reduced investor participation in the cash segment.

4 February 2026: Modest Gains Amid Mixed Sentiment

Swiggy Ltd continued its upward trajectory on 4 February, closing at Rs.321.05, a 1.10% gain from the previous day. The Sensex also advanced by 0.37% to 36,890.21. Trading volumes declined significantly to 166,624 shares, reflecting a quieter session. The stock’s modest gain followed the prior day’s strong rally but lacked the same momentum, as investors appeared to digest the mixed signals from technical and derivatives markets.

5 February 2026: Slight Uptick Despite Sensex Decline

On 5 February, Swiggy Ltd edged up marginally by 0.12% to Rs.321.45, even as the Sensex fell 0.53% to 36,695.11. The stock’s resilience amid a broader market pullback indicated some underlying support. Volume remained subdued at 191,347 shares. The stock’s position below key moving averages continued to temper enthusiasm, suggesting that the short-term gains were tentative.

6 February 2026: Week Closes Slightly Lower

Swiggy Ltd ended the week at Rs.319.80, down 0.51% from the previous day’s close. The Sensex gained a marginal 0.10% to 36,730.20. Trading volume increased to 221,706 shares, indicating renewed activity. The slight decline on the final day trimmed some of the week’s earlier gains but left the stock with a net positive return of 2.80% for the week. The stock’s performance outpaced the Sensex’s 1.51% rise, reflecting relative strength despite ongoing technical challenges.

Key Takeaways

Positive Signals: Swiggy Ltd outperformed the Sensex with a 2.80% weekly gain versus the benchmark’s 1.51%. The intraday surge on 3 February to Rs.328.35 marked a significant rally supported by strong derivatives market activity, including a 10.18% rise in open interest. This indicates fresh speculative interest and potential for short-term volatility. The stock’s ability to hold gains despite a volatile market environment reflects pockets of resilience.

Cautionary Signals: Despite the weekly advance, Swiggy remains below all key moving averages, signalling a longer-term bearish trend. Delivery volumes declined sharply on 3 February, suggesting waning investor participation in the cash market. The weighted average price on the day of the rally showed concentration near the lows, indicating selling pressure amid the gains. The MarketsMOJO Mojo Score of 29.0 and Strong Sell grade underline ongoing fundamental and technical challenges.

Conclusion

Swiggy Ltd’s week was characterised by a notable intraday rally and increased derivatives market activity, which helped the stock outperform the Sensex by 1.29 percentage points. However, the mixed technical signals and declining delivery volumes highlight a cautious backdrop. The stock’s position below key moving averages and the strong sell rating suggest that while short-term rallies are possible, sustained upward momentum remains uncertain. Investors should closely monitor both technical developments and broader sector trends as the stock navigates this complex phase.

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