BSE Limited | Breakdown | Latest stock market news(3 minutes read)

Stock name: BSE Limited

Pattern: Breakdown

Time frame: Daily

Observation: The stock has been in an uptrend for quite sometime and had formed a consolidation range after a rally. Later price broke out of the said consolidation range on the back of huge volumes. However, after breaking out there was no follow up price action on the bullish side and the price started to fall (on low volumes). Now the price has even broken the low of the previous consolidation range, indicating absence of strong buyers in the counter.

You may add this to your watchlist to understand further price action.

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) Food aggregator Zomato’s board has approved the acquisition of quick commerce start-up Blinkit in an all stock deal for a total purchase consideration of Rs. 4,447 crores. The move comes at a time when Zomato is gearing up for 10-minute delivery.

2) While announcing its earnings for fourth quarter ended 31 March 2022, Bajaj Auto had said its board also recommended a dividend of ₹140 per share, subject to approval of shareholders. The auto stock is going to turn ex-dividend on Thursday, a day ahead of its record date fixed on July 1, 2022, for the finalisation of eligible shareholders for dividend payment.

3) TTK Prestige says that it has made a strategic investment of over 40% in the equity of Ultrafresh modular solutions.