Meesho shares have seen strong gains in recent times, leaving investors to wonder whether it is the right time to buy the stock or wait for a correction.
Over the last six months, the stock has surged nearly 60%, defying weak stock market sentiment.
As per the BSE data around 2 pm on 7 October, ‘s share price is up 59% in the last six months compared to a 3% fall in the equity benchmark Sensex. Year-to-date, the stock is up 30, hitting a 52-week low of ₹125.70 on 16 March. Meesho shares hit a 52-week high of ₹254.65 on 18 December last year.
The stock declined nearly 2% in intraday deals on 7 October, looking set to snap its two-day winning run.
Meesho latest news
In an exchange filing on 6 October, Meesho said its board had approved an investment of up to ₹50 crore in Retail Pulse Labs Private Limited. Retail Pulse Labs will become a step-down subsidiary of the company after the completion of the acquisition.
On 12 June 2026, Meesho had informed about the proposed acquisition of Kirana Club Pte. Ltd. and its subsidiary Retail Pulse Labs.
In a separate exchange filing on the same day, the company said its net merchandise value (NMV) through its content commerce ecosystem grew 152% year-on-year, supported by over 1.6 lakh active creators over the last 12 months across India.
Meesho claims to be India’s largest e-commerce platform by the number of annual transacting users and placed orders.
DIIs, FPIs increase their stake
Meesho’s latest shareholding pattern data reveals that domestic institutional investors (DIIs) and foreign portfolio investors (FPIs) increased their stake in the company during the September quarter of the financial year 2026-27 (Q2FY27). During the quarter, the stock rose by 18%.
DIIs held 63,21,28,408 shares, or 13.66% stake, in Meesho by the end of the September quarter, up from 42,12,58,525 shares, or 9.14% stake, held by the end of the June quarter.
FPIs, on the other hand, increased their stake to 45,50,74,351 shares, or 9.83% stake by the end of the September quarter from 23,91,82,522 shares, or 5.19% stake, by the end of the June quarter of the current financial year.
Is it the right time to buy Meesho shares?
Recently, on 24 September, global financial firm Nomura initiated coverage on the stock with a “reduce” view, fixing the target price of ₹167.
Nomura said it likes Meesho’s asset-light business model, but its current share price leaves little room for error.
The global financial firm believes third-party logistics disruptions and intensifying competition could create headwinds for margin improvement.
“Meesho trades at a premium to Eternal and Swiggy, despite their higher NMV growth and cash-cow food delivery businesses,” said Nomura.
According to Jigar S. Patel, Senior Manager of Equity Technical Research at Anand Rathi Share and Stock Brokers, Meesho stock is currently looking heavily extended on the higher side after a strong upmove, warranting caution at current levels.
“On the first major top near ₹240, the RSI had moved above the 70 overbought zone, indicating stretched momentum. At current levels, despite continued price strength, RSI is struggling to sustain a move into overbought territory, suggesting momentum may be losing some steam. This divergence in price extension and momentum warrants a cautious stance rather than chasing the stock at elevated levels,” said Patel.
“Fresh buying should be avoided at current levels, particularly after the sharp rally. Existing investors can continue to hold the position while maintaining a trailing stop-loss at ₹230 to protect profits,” Patel said.
Patel added that a sustained move above the recent high with improving momentum would be required for further upside confirmation. Until then, investors should focus on profit protection and disciplined trailing stop-losses rather than fresh accumulation.
Shitij Gandhi, AVP – Equity Technical Research at SMC Global Securities, underscored that Meesho is showing a bullish continuation structure, with the stock forming higher highs and higher lows after a prolonged consolidation phase.
The recent rally has pushed the price towards the key resistance zone of ₹238–240, where some profit-booking is visible.
According to Gandhi, the immediate support is placed around ₹215–218, while sustained holding above this zone keeps the broader structure positive.
“A decisive breakout and close above ₹240 could trigger fresh momentum towards ₹250–255, with the larger resistance zone near ₹258–260. On the downside, a break below ₹215 may lead to consolidation towards ₹205–210. Overall, the setup remains constructive as long as the stock sustains above its recent breakout base. A breakout above ₹240 with strong volumes would strengthen the upside price forecast,” Gandhi said.
Deepesh Sarawagi, a technical research analyst at Choice Broking, pointed out that the primary structure remains firmly bullish, characterised by a steady sequence of higher highs and higher lows while holding comfortably above its rising short-term moving average near ₹201.74.
According to Sarawagi, the stock faces immediate overhead resistance at ₹245. A decisive breakout above these levels, then it’s backed by strong volume, which could accelerate upside momentum toward subsequent resistance levels at ₹255– ₹260, retesting its prior swing high near ₹254.40.
Sarawagi added that the weekly RSI stands firmly in bullish momentum territory at 71.40, supported by rising green weekly volume candles that indicate strong accumulation on rallies. On any pullback, ₹220– ₹218 acts as immediate trend line support, with major structural support placed around ₹201.
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Disclaimer: This article is for educational purposes only and does not constitute investment advice. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.