1. Stock name: GMR Airports Infrastructure Ltd.

Pattern: Cup and handle pattern

Time frame: Weekly

Observation:

Since November 2007, the stock has been in a downtrend. However, on its weekly chart, a bullish cup and handle pattern has been forming from June 2014 to July 2023. In the last week of July 2023, a significant breakout candle emerged from the pattern, supported by strong volumes. Additionally, the MACD line has recently crossed its base line from below. As per technical analysis, if the breakout level is sustained by the stock, it may move further upwards.

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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2. Stock name: GAIL (India) Ltd.

Pattern: Cup and handle pattern and retest

Time frame: Weekly

Observation:

During the COVID-19 period, the stock reached its lowest point and then rebounded, showing an upward trend. Between June 2021 and the present, the stock's price consolidated within the range of 80-115. During this time, a bullish cup and handle pattern formed on the weekly charts. The breakout from this pattern occurred in the last week of July. Currently, the stock is retesting its breakout level. The RSI is at around 65, indicating strength in price movement, and the MACD line recently crossed its base line from below. Based on technical analysis, if the stock can maintain its breakout level, it may move further upwards.

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.

News for the day:

1) Dabur India's CEO Mohit Malhotra has announced the company's search for acquisition targets in the D2C healthcare and personal care sectors, aiming to enhance their presence in the premium market and urban areas. This move aligns with Dabur's strategy to expand its reach and strengthen its position in these growing segments.

2) Bharti Airtel's Q1FY24 report reveals a 9% year-on-year increase in ARPU to Rs 200, marking industry leadership, and highlights growing average data usage per customer at 21.1 GBs/month.

3) Blackstone is poised to bid for Cipla's 33.47% stake, potentially ending the Hamied family's legacy in the company known for affordable drugs. If successful, the deal could become India's largest private equity buyout at over $6 billion.