1. Stock name: Indian Railway Finance Corporation Ltd.

Pattern: Flag and pole pattern

Time frame: Weekly

Observation:

Since October 2022, the stock has been consistently trending upward. From July 2023 to September 2023, it experienced a rapid ascent, followed by a consolidation phase until December 2023. This resulted in the formation of a flag and pole pattern on its weekly chart between July 2023 and December 2023. In December 2023, the stock broke out of this pattern with substantial trading volume, accompanied by a positive signal on the MACD indicator. According to technical analysis, the stock may continue its upward trajectory if it maintains its current momentum.

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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: Rashtriya Chemicals & Fertilizers Ltd.

Pattern: Cup and handle pattern

Time frame: Weekly

Observation:

From January 2018 to March 2020, the stock experienced a decline, followed by an upward trend. This resulted in the formation of a cup and handle pattern on its weekly chart from January 2018 to December 2023. The stock recently broke out of this pattern in early December 2023, supported by significant trading volume. Furthermore, the MACD indicator signaled positively just before the breakout. Technical analysis suggests that if the stock maintains its current momentum, it may continue moving upward.

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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.

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News for the day:

1) Ford unexpectedly canceled the sale of its Tamil Nadu plant to JSW, fueling speculation about a potential re-entry into India's auto market. The Maraimalai Nagar plant, on sale since Ford's 2021 exit, had a $100 million deal with JSW. This decision suggests a strategic shift for Ford amid India's growing EV market and global auto industry changes.

2) Karur Vysya Bank and HDFC Life have formed a corporate agency agreement, allowing the bank's customers access to HDFC Life's diverse life insurance products, covering protection, savings, investment, retirement, and critical illness. With HDFC Life's online claim intimation process, customers can conveniently utilize the services without leaving their homes, according to Karur Vysya Bank's Managing Director and CEO, B Ramesh Babu.

3) Varun Beverages Ltd (VBL), a major PepsiCo franchise bottler, is acquiring South Africa's Beverage Company (Bevco) and subsidiaries for Rs 1,320 crore. The deal, valued at ZAR 3 billion, aims to expand VBL's presence in the African market, where Bevco holds PepsiCo franchise rights, with completion expected before July 31, 2024.