Stock name: PVR

Pattern: Weekly trendline support

Time frame: Weekly

Observation:

The stock is a slow-moving stock and has shown decent corrections after run-ups in the recent times and the cycle goes on. Currently the stock has corrected by around 25% from the top and is on an important trendline of weekly basis. If it takes support here, we can see good up-move in the coming days. However, if this support is broken, we can see selling pressure in this 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: Justdial
Consolidated revenue 39% up YoY
Consolidated PBT up 366% YoY
Margins at 12%, highest in last few quarters

2) Siemens wins an order of Rs. 26,000 crores. The order book climbs terrifically for Siemens in India on the back of the Rs. 26,000 crore deal win. This order will be delivered over a period of 11 years. It includes an order of 1,200 Locomotives from the Indian Railways.

3) India is considering lowering tax rates under its voluntary income tax framework and could introduce revised slabs in the upcoming federal budget due on February 1, two government sources told Reuters on Tuesday.

4) Alok Industries, Amal, CCL Products, Central Bank, Goa Carbon, Indusind Bank, Oracle Financial Services, Persistent, PSP Projects, Rallis India, Shemaroo Ent., Surya Roshni and Vinyl Chemicals are amongst companies which will post their quarterly results tomorrow.