Stock name:  Ethos Limited

Pattern: Trendline Breakout

Time frame: Daily

Observation:
The stock had listed very recently in the month of May 2022 and after a brief uptrend, the stock went into a consolidation. The stock was facing resistance of a downward sloping trendline and has today broken out of the same with good volumes. However, there is one more range consolidation resistance around 1100 levels and once the same gets taken out, we can see good up move in this stock.

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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) Q2 result update: Mahindra CIE
Consolidated Revenue up 30% YoY

Consolidated PAT up 27% YoY

OPM at 12%

2) Lupin clarifies to the news item – Company gets US FDA warning letter on Tarapur plant. Company says it does not believe warning letter will impact on disruption of supplies.

3) Shares of Amara Raja Batteries up by 7% up today, had posted results yesterday, PAT highest in last many quarters.

4) Aarti Surfactants, Balkrishna, Bank of Baroda, DCB Bank, JBM Auto, Neogen, Power Grid Corp., Rossari, SBI, Triveni Engineering and Zuari Agro Chemicals are some of the companies which will post their results tomorrow.