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Item Details | Price |
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Stock name: Bank of India
Pattern: Double top
Time frame: Daily
Observation:
After a fantastic run-up in the last quarter, the stock started to correct and now seems to be making a double top pattern. We can see big volume red candles near the top, hence confirming the bearishness.
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Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.
News for the day:
1) Q3 results update: Bank of India
Consolidated revenue 36% up YoY
Consolidated PBT up 3.24% YoY
NIM up at 3.28% from 2.27% in the corresponding quarter last year
Gross and Net NPA numbers have also improved
2) Maruti Suzuki recalls 17,362 units to fix faulty airbag controller. The affected models are Alto K10, S-Presso, Eeco, Brezza, Baleno and Grand Vitara, manufactured between 8 December 2022 and 12 January 2023
3) Oravel Stays Ltd, which operates travel tech firm and brand OYO, on Wednesday said it will refile its draft public listing application by the middle of next month.
4) Asian Paints, AU Small Finance Bank, Can Fin homes, Datamatics, Happiest Minds, Hatsun Agro, Havells India, Hindustan Zinc, HUL, ICICI Securities, Indiamart Intermesh, L&T Tech, Meghmani Fintech, Mphasis, Polycab and PVR are amongst companies which will post their quarterly results tomorrow.