Analyst Deepak Pal said IndiGo could see a 10% upside if it breaks out above ₹5,400, with targets near ₹5,600-₹6,000. The stock is consolidating between ₹5,200 and ₹5,400. Despite sector headwinds, IndiGo remains fundamentally strong, posting ₹8,200 crore profit in FY24 and holding ₹21,000 crore cash.