Stock name: Mirza International

Pattern: Up-move out of consolidation

Time frame: Daily

Observation:

The stock has been very strong since 2020 and had gone up by 10 times in the last 3 years!

It stared correcting in September 2022 and got corrected by ~40%, post which it started consolidating in a range. Very recently, the stock has broken out of the consolidation range with good volumes. Also, if we see, if has conveniently gone above a down gap created by it while correcting, indicating bulls in action.

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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) BPCL and Voltup to install 650 battery swapping stations across 50 cities in the next 3 years.

2) Shares of IRB Infrastructure Developers Ltd. surged more than 2% to ₹31 apiece on the BSE today as the stock started trading ex-split, on the record date of the stock split in the ratio of 1:10.

3) The NSE has extended the market trading hours for interest rate derivatives to 5 pm, effective Thursday, February 23, the stock exchange said in a notice. Currently, the trading window starts at 9 am and ends at 3:30 pm.