Indigo | Breakout | Latest stock market news
(3 minutes read)

Stock name: Indigo

Pattern: Breakout

Time frame: Weekly

Observation:

The stock went into a long consolidation since November 2021, after an uptrend post covid lows.

Very recently, the stock has broken out of the said consolidation. As per technical analysis, once a stock breaks out of such a long consolidation, it travels the distance equal to the height of the consolidation.

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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) Datamatics achieves highest maturity level 5 of CMMI for software development and BPM services

2) US inspectors find safety lapses at Indian drugmakers. Cipla, Lupin and Sun pharma amongst companies issued FDA notices – BBG

3) Va Tech Wabag has secured an order worth about Rs. 420 crores towards the design, build and Operation of a Water Treatment Plant at Jite, Raigad for City and Industrial Development Corporation of Maharashtra Limited (CIDCO)," the company said in a regulatory filing.