1. Stock name: Computer Age Management Services Ltd.

Pattern: Double bottom pattern

Time frame: Weekly

Observation:

Since September 2021, the stock has experienced a consistent decline. Between February 2022 and November 2023, a double-bottom pattern emerged on the weekly chart. In November 2023, the stock witnessed a significant breakout from this pattern, accompanied by substantial trading volume. Additionally, the MACD indicator recently displayed a positive signal for this stock. Based on technical analysis, if the stock has sustains its present momentum then the stock may continue this upward trajectory.

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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.

2. Stock name: Aarti Industries Ltd.

Pattern: Double bottom pattern and retest

Time frame: Weekly

Observation:

From October 2021, the stock has undergone a steady decrease. Between May and November 2023, a double bottom pattern materialized on the weekly chart. November 2023 saw a breakout from this pattern, supported by significant trading volume. Presently, the stock is undergoing a retest of this breakout level, with the RSI at a favorable level. According to technical analysis, a successful rebound from this retest could propel the stock on an upward trajectory.

You may add this to your watch list to understand further price action.

Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.

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News for the day:

1) Mangaluru-based Karnataka Bank has partnered with HDFC Life to distribute life insurance products, aiming to provide innovative financial solutions. The collaboration leverages Karnataka Bank's extensive banking experience and HDFC Life's expertise, delivering a range of benefits to customers seeking financial security and life protection.

2) L&T's hydrocarbon business has secured a significant contract in the Middle East, valued between Rs 10,000-15,000 crore. The mega offshore order involves constructing a new large offshore platform and integrating it with existing facilities, marking a milestone for L&T's offshore business, according to Subramanian Sarma, Whole-time Director and Senior Executive Vice President (Energy) at L&T.

3) PTC India is selling its subsidiary, PTC Energy, to ONGC for Rs 2,021 crore, making PTC India debt-free after the deal. The move is part of PTC India's plan to focus on its main business and reduce debt, showing a positive step in its financial strategy.