Stock Analysis and Stock Market News 13-May-2022(3 minutes read)

Stock name: Godrej Consumer Products

Pattern: MACD Crossover

Time frame: Daily

Observation: The stock was in a downtrend and is now consolidating in a range. The stock has shown a MACD crossover today and is also showing strength in a falling market. The volume built up in the last few days has been good. Once the daily candle closes above the resistance levels of the consolidation range as marked in the image below, the price can move higher.

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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) L&T Q4 results: Consolidated PAT rises 9.9% to Rs. 3,621 crores, also board has recommended a final dividend of Rs. 22 per share. The company bagged orders worth Rs. 73,941 crores during the quarter ended March 2022, a growth of 46 percent over the corresponding quarter of last fiscal, with international orders contributing 44 percent of the total order inflow. Healthy order inflow guidance and optimistic management commentary on the order prospects going forward gives us comfort, says Sharekhan.

2) TRAI March Data - Airtel Leads in active subscriber additions, Jio maintains leadership: Motilal Oswal. Reliance Jio’s active subscriber additions remained flattish after a series of additions, with active subscriber additions of a mere 0.2 million. Conversely, Bharti Airtel Ltd. clocked healthy additions of 4.6 million.

3) Affle India, Dmart, TVS electronics, Vinati Organics amongst some companies that will declare results tomorrow.