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| Item Details | Price | ||
|---|---|---|---|
Stock name: CDSL
Pattern: Near Resistance
Time frame: Daily
Observation: CDSL has been trading near to its resistance for the last couple of days. On the technical indicator Directional movement index, the +DI (blue line) has given a positive crossover to the -DI (orange line) and ADX (pink line). The average directional index is also above 20 which is a positive sign for the stock. If the stock crosses the resistance and sustains with good volumes then we may expect an up move.
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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) Reliance industries chairman Mr. Mukesh Ambani at its 45th AGM held on 29th August 2022 announced Rs.75,000 crore investment in the petrochemical business over the next five years. The new investments will be applied for expanding polyester capacity, setting up PTA (Purified Terephthalic Acid) plan, tripling the capacity of vinyl chain, and a chemical unit in UAE. Along with this, an investment of Rs. 2 lakh crores has also been announced in deploying 5G services in India.
2) Engineering services firm L&T Technology Services announced on Monday that it has won a five-year, multi-million-dollar deal from European luxury automaker BMW Group to provide high-end engineering services for its suite of infotainment consoles targeted for its family of a hybrid vehicles.
3) Stock of primal enterprises limited surged up to 9% in the early session today as the record date is fixed as September 01, 2022, for issuance and allotment of 4 equity shares (Rs 10 each) of Piramal Pharma (PPL) for every 1 equity share (Rs 2 each) to shareholders of PEL.
4) Shares of Bajaj finserv surged more than 4% as the company announced the record date of 14th September 2022 for issuance of bonus shares in the ratio of 1:1 i.e., for every one equity share held one bonus share will be allotted.