Stock name: MPS Limited

Pattern: Trendline Support

Time frame: Daily

Observation:

The stock has been up-trending since the Covid lows and is now taking support at a crucial trendline. Recently, the stock has taken a bounce from the same trendline and is showing signs of bullishness. If the stocks sustain above the psychological level of 1,000, then we may see some more up move in this counter.

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Disclaimer: This analysis is purely for educational purposes and does not contain any recommendations. Please consult your financial advisor before making any financial decision.

News for the day:

1) Q4 result update: Tata Motors
Revenue up 35% YoY
PBT at 4784 crores, up from a loss of 341 in the same quarter last year

2) Sadhana Nitro to consider proposal for declaration of bonus share on 24 May

3) Recent media reports have indicated that ONDC is processing 25,000 orders per day, a significant ramp-up from NIL earlier in the year. The cost of ordering food on ONDC, at least in some cases, seems to be lower than on Zomato / Swiggy, though this is largely on account of ONDC-funded discounts, which may not sustain," Kotak Equities said in a report.

4) 7NR Retail, Deepak Fertilisers, Devyani, Elcid Investments, Endurance, GIC Housing Finance, GSK, Honeywell, JK Tyres, Jubilant Foodworks, Madras Fertilisers, MM Forgings, MTAR Tech, Paradeep Phosphates, Railtel, Ramco Systems, REC, SKF India, Thermax, Whirlpool and Zydus Wellness are amongst the companies which will post their quarterly results tomorrow.