Stock name: Latent view

Pattern: Trendline breakout

Time frame: Daily

Observation:

The stock has been in a downtrend and since its listing and has been taking resistance at a downward-sloping trendline. However, today the stock has broken out of the said trendline with good volumes.

As per technical analysis, this may indicate exhaustion in selling 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) IIFL Finance: Company raises $175 million from HSBC, Union bank and Baroda via ECB route

2) Marking the shift of a $7.5 billion derivative trade from the Singapore Exchange to the NSE International Exchange (NSE IX) in Gujarat's Gandhinagar, SGX Nifty futures contracts have been rebranded as Gift Nifty with effect from today.

3) Shares of Mazagon Dock Shipbuilders jumped over 7% today after the firm bagged an order worth Rs. 2,724 crores from the Indian Navy.