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MMYT — Oversold Bullish Reversal + Gap-Fill Reversal
Status: Watch
Scanner score: 60.0/100
Why this was flagged
MMYT was identified as a bullish technical setup based on the Oversold Bullish Reversal + Gap-Fill Reversal pattern. The scanner found a score of 60.0/100 using trend alignment, momentum, price action, volume, and risk-management rules.
Trade framework
Position-sizing example
These examples use the distance between the reference entry and stop-loss. They do not account for commissions, slippage, taxes, overnight gaps, or your personal account size.
Exit plan
- Stop-loss: Exit if the stop-loss is reached. Do not move the stop farther away to avoid taking the planned loss.
- Target 1: Consider taking partial profit when Target 1 is reached and reducing risk on the remaining shares.
- Target 2 or trailing exit: Consider closing the remaining position at Target 2, or use a disciplined trailing stop only if the trend remains strong.
- Time exit: Reassess or close a trade that fails to progress within the suggested holding window.
Technical chart
Daily closing price with moving averages and planned trade levels. This chart is a screening aid, not a guarantee of future results.
$1,000 educational outcome examples
These examples use a $1,000 position and fractional shares at the midpoint of the entry zone. Actual results can differ because of market gaps, fills, spreads, commissions, taxes, slippage, and changing conditions.
Easy explanation for new investors
The scanner flagged MakeMyTrip Ltd (MMYT) because it looks like a potential turn for the better. The stock recently dropped sharply, leaving a "gap" in the price chart where no trading happened. It then moved back up to fill that gap. This is called a Gap-Fill Reversal. The scanner gives this setup a score of 60 out of 100. This is not a perfect score, but it shows the system found interesting signs in the data. It uses rules for trend and momentum to decide if the price might start moving up again.
What the price plan means
If you were to follow this plan, you would look to enter near the current price of $49.08 to $49.66. The plan sets a stop-loss at $47.51. This means if the price falls below this point, the idea is considered invalid, and you would exit. The first profit target is $52.20, and the second is $53.77. The ratio of potential gain to risk is 2 to 1. This means for every dollar you risk losing, the plan aims for you to potentially gain two dollars. This is a common rule traders use to manage risk.
What could make the idea fail
Several things can go wrong. The RSI indicator is at 15, which means the stock was "oversold." This just means it dropped fast recently; it does not mean it must rise next. Sometimes, stocks continue to fall even after being oversold. Also, the setup depends on specific price levels holding. If the stock breaks below the stop-loss price, the trade idea is broken.
Important reminder
This scanner is a tool to help you notice possibilities. It is not a prediction of the future. Markets are unpredictable. Always do your own research. The status is "watch," meaning you should observe it carefully. Never invest money you cannot afford to lose.
Recent news context
This automated review is separate from the technical score. It summarizes recent related articles and does not predict price movement.
Overall context: Caution (Moderate confidence)
MakeMyTrip recently saw institutional accumulation, with Carrhae Capital increasing its stake by 47% to $11.8 million, alongside other institutions holding 51.89% of the stock. The company continues to operate analyst consensus at 'Moderate Buy' with a price target of $86.75. However, the stock experienced a 6.4% single-day decline and recent downgrades from Wall Street Zen and Zacks Research. The current valuation is high, with a trailing P/E of 411.92. On the operational side, MakeMyTrip partnered with Fly91 to launch holiday packages for Lakshadweep, aiming to capture peak travel season demand.
Potentially supportive context
- Carrhae Capital increased its stake in the company by 47% to $11.8 million.
- Institutional ownership is significant at 51.89% of the stock.
- Partnership with Fly91 introduces new travel packages to Lakshadweep.
Risks and caution items
- The stock dropped 6.4% on a recent trading day.
- Recent analyst downgrades were issued by Wall Street Zen and Zacks Research.
- The company maintains a high trailing P/E ratio of 411.92.
- Recent trading volume was significantly lower during the price drop.
Latest reviewed article: Sep 9, 2026 10:30 pm
Recent related articles
MakeMyTrip (NASDAQ:MMYT) shares dropped 6.4% on Wednesday with significantly lower trading volume. Despite recent downgrades from Wall Street Zen and Zacks Research, the stock maintains a "Moderate Buy" consensus rating and an average price target of $86.75 from analysts. Institutional investors hold…
Carrhae Capital LLP significantly increased its stake in MakeMyTrip Limited (NASDAQ:MMYT) by 47% in the second quarter of 2026, acquiring an additional 70,823 shares and bringing its total holdings to 221,385 shares valued at $11.8 million. Other institutional investors also increased their…
MakeMyTrip has partnered with regional airline Fly91 to offer curated holiday packages to Lakshadweep, leveraging Fly91's new direct flights from Bengaluru to Agatti starting November 12, 2026. These packages include return flights, accommodation, meals, activities, and tour manager support, aiming to make…
Important: Some returned articles may describe competitors, industry conditions, or related companies. Open the source before relying on an article.
Scanner confirmations
- Current volume is at least 1.25x the 20-day average volume.
- RSI is near oversold territory with bullish candle confirmation.
- Price reversed higher after a prior-day gap down and reclaimed the prior close with volume confirmation.