Stock name: PB Fintech

Pattern: Double bottom

Time frame: Daily

Observation:

The stock has been in a downtrend since its listing and has recently formed a consolidation in the form of a double bottom pattern. It’s very close to the neckline and once it closes above the neckline, we can see a good up-move in this counter. In such a pattern, once the stock crosses above the neckline, it generally travels the distance equal to the difference between the neckline and the bottom.

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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: RCF
Consolidated revenue 68.55% up YoY
Consolidated PBT 82% up YoY

2) RBI hikes Repo rate by 25 basis points to 6.5%

3) TCS secured 700 Mn USD deal in UK, its largest in the last 3 years

4) Aarti Surfactants, Adani Total Gas, Akzo Nobel, Alembic, Alkyl Amines, Andhra Cement, Aurobindo Pharma, Bajaj Consumer, Birla Cable, Bombay Dyeing, Devyani, EIH Hotels, Finolex Cables, Force Motors, Greaves Cotton, Hindalco, HAL, IRCTC, KNR Construction, LIC, Lupin, MRF, MTAR Tech, Page Industries, Paras Defence, Pfizer, RITES, Sudarshan Chemicals, Sula Vineyards, UBL, Voltas and Zomato are amongst the companies which will post their quarterly results tomorrow.