There are no items in your cart
Add More
Add More
| Item Details | Price | ||
|---|---|---|---|
Stock name: MRF Limited
Pattern: At an important Fibonacci level
Time frame: Weekly
Observation: The stock was in a downtrend for the last few weeks but had then formed a Doji candle, indicating indecision in the markets and has since then turned upwards. The stock is currently trading near an important Fibonacci level (76,590) and if it sustains / closes above the same, the stock can head higher.
You may add this to your watchlist to understand further price action.
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) Shares of MTAR Technologies jumped 4.9 % in early trade today as the company’s board said it has approved the acquisition of shares of Gee Pee Aerospace & Defence Pvt. Ltd., an MSME company, for a consideration of Rs. 8.82 crores. According to MTAR, the public procurement policy mandates procurement of up to 20% of requirements of the government departments through MSMEs and this is expected to augment the firm’s customer base.
2) Shares of Tech Mahindra climbed 2.8% in early trade today as the tech heavyweight announced a tie-up with Anritsu to establish an Internet of Things (IoT) experience lab at Fremont, California. The lab aims to create a cost-effective environment for 5G IoT device manufacturers to verify device performance. The lab will be an incubator, as well as a research and development centre, for IoT device manufacturers to validate their designs in the early development phase and to help launch best-in-class IoT products, media reports said.
3) Greaves Cotton, through its electric vehicles (EV) subsidiary has tapped overseas private equity to fund its EV venture. ALJI, a Saudi based fund, will invest $150 million (Rs. 1,160 crores) for 35.8% stake in Greaves Electric Mobility.
4) Aether Industries made a strong debut on Dalal street today as the speciality chemicals company listed at Rs. 706.15 per share, a premium of 10 per cent over its issue price of Rs. 642 a share on BSE. The stock immediately hit upper after listing and got locked at Rs. 774.40 per share.