Stock name: Naukri

Pattern: Volume based selling

Time frame: Weekly

Observation:

The stock is in a downtrend for the last one and a half year and today, on the announcement of results, the stock plunged by ~10% with heavy volumes. It is note worthy to note that the stock is currently standing at an important support and if the same is not held, this will lead to further selling in the 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) Q3 results update: Fortis Healthcare Limited
Consolidated revenue 6.33% up YoY
Consolidated PBT 3.62% down YoY

2) IndiGo has restored annual increments for more than 4,500 pilots as a financial turnaround helped the airline make a profit in Q3 FY23 after three quarters of loss.

3) Renault SA and Nissan Motor Co. unveiled their first joint project since announcing a revamp of their carmaking alliance last week. The pair will invest $600 million in India to expand their car lineup, add jobs and decarbonize a manufacturing plant in Chennai, the companies said in a joint statement on Monday.

4) YES Bank has approached the Supreme Court to challenge the Bombay High Court's January 20 order quashing the write-off of the additional tier-1 (AT-1) bonds, a report by BQ Prime said quoting two people aware of the developments. The bank has said that its administrator had the power to write off these bonds worth Rs 8,415 crore.

5) Adani Ent., Ajanta Soya, Apollo Hospital, Balkrishna, Bata India, Bharat Forge, Biocon, Bosch, CES Limited, DB Realty, DCM Shriram Inds., Deccan Cements, Eicher Motors, EID Parry, Eureka Forbes, Expleo Solutions, Grasim, HEG, Hubtown, Ipca Labs, MTNL, NBCC (India), NMDC, ONGC, Pokarna, Radico Khaitan, Sayaji Hotels, Shreyas Shipping and Siemens are amongst the companies which will post their quarterly results tomorrow.