Stock name: Borosil Limited

Pattern: Near a resistance

Time frame: Daily

Observation:

The stock has been in a downtrend for quite some-time but has very recently started an up-move.

Currently, the stock is trading at an important level of ~400, which was a support earlier and can now act as a resistance.

If the same is taken out, we can come good up-move in the counter.

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Disclaimer: This analysis is purely for educational purposes and does not contain any recommendations. Please consult your financial advisor before taking any financial decision.

News for the day:

1) Q4 result update: Tata Coffee
Revenue up 10.21% YoY
PBT 12% down YoY
OPM at 15%

2) Cube Highways today announced the listing of its InvIT, backed by investments from the British Columbia Investment Management Corporation and Abu Dhabi's Mubadala Investment Company. The InvIT raised around $630 million to develop its portfolio of 18 toll and annuity road assets spanning 1,423 Kms across India.

3) India is preparing an overhaul of its direct tax laws to reduce widening income inequality if he returns to power next year, according to people with knowledge of the matter, Mint reported.

4) Cyient, HCL Tech, ICICI Prudential, Orient Green, Oriental Hotels and Sterling Wilson are amongst the companies which will post their quarterly results tomorrow.