How to trade Cupid shares after a massive 40% rally in a month? 2 technical experts weigh in

Shares of Cupid rebounded sharply on Thursday, climbing 11% to Rs 216 on the BSE, a day after plunging 12% in the previous session. Despite the recent volatility, the stock has rallied 41% over the past one month and has surged nearly 900% in the last one year.

How to trade cupid shares?
“Cupid is currently trading around Rs 206.80 and continues to maintain a strong bullish structure on the daily chart despite witnessing profit booking after registering a fresh 52-week high near Rs 226. The stock remains in a robust Higher High–Higher Low (HH-HL) formation, indicating that the broader uptrend is intact,” says Hitesh Tailor, Technical Research Analyst at Choice Broking.


On the downside, the Rs 177–185 zone is expected to act as an immediate support area, aligning closely with the 20-Day EMA and the recent breakout region. A stronger support is placed near Rs 155–160, coinciding with the 50-Day EMA. As long as the stock sustains above these crucial support levels, the overall trend is likely to remain positive, with the potential to retest Rs 225–230 in the near term. However, a decisive breach below the Rs 177–185 support zone could trigger further profit booking and lead to a short-term retracement towards theRs 155–160 support region.

Virat Jagad, Technical Research Analyst at Bonanza says the rally reflects strong bullish momentum supported by sustained buying interest and higher trading volumes. The stock continues to trade comfortably above its key short-and long-term moving averages, indicating that the broader uptrend remains intact. However, after the recent sharp surge and rejection near Rs 220, some profit booking has emerged, pushing the RSI lower from overbought levels. As long as the stock holds above the immediate support zone of Rs 195–200, the positive structure is likely to remain intact.

Also read: Cupid rebounds 6% after sharp fall as upgraded FY27 guidance boosts sentiment

Cupid Q1 update

Fundamentally, the recent momentum stems from its management commentary. Cupid at the end of June said it is on track to report revenue exceeding Rs 150 crore in the first quarter of FY27, which it described as one of the strongest quarterly performances in its history. Aided by the strong start to the financial year and improved visibility across international and domestic markets, the company has also raised its FY27 revenue guidance.

The company now expects FY27 revenue to stand at more than Rs 660 crore, up from its earlier guidance of Rs 600 crore, implying an upward revision of at least 10%. Cupid said the revised outlook is backed by its diversified business model, an expanding global opportunity pipeline and increasing operating scale across multiple business verticals.

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The company now expects FY27 revenue to stand at more than Rs 660 crore, up from its earlier guidance of Rs 600 crore, implying an upward revision of at least 10%. Cupid said the revised outlook is backed by its diversified business model, an expanding global opportunity pipeline and increasing operating scale across multiple business verticals.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)