Paytm | Near Resistance | Latest stock market news(3 minutes read)

Stock name: Paytm

Pattern: Near Resistance

Time frame: Daily

Observation: Paytm has given a gap-down opening on 14th March 2022 after which intense selling was witnessed with strong volumes. However, the stock started to trade in a range with good volumes. Currently, the stock is trading near its resistance and if it crosses the resistance and fills the gap which it made on 14th march then a further up move can be expected.

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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) Tata Power plans to invest over Rs 75,000 crores in renewables in the next five years and aims to have an electricity generation capacity of 30 GW during the same period with more than half coming from clean energy sources.


2) IT giant TCS will announce its Q1 results for FY 23 today. The street is expecting a jump of 15% in revenue and 7-11% growth in profits on a year-on-year basis. Along with TCS, MMTC, Kohinoor foods, Spectrum foods and Brahma infra will also be announcing their Q1 results today.

3) British international investment (BII) to invest Rs. 1925 crores in Mahindra and Mahindra’s 4-wheeler electric vehicle firm. The capital was raised at a valuation of $9.1 billion (70,070 crores) for which the BII will receive ownership somewhere between 2.75 -4.76% of the EV company.