1. Stock name: JM Financial Ltd.

Pattern: Double bottom pattern

Time frame: Weekly

Observation:

Following its peak around October 2017, the stock entered a prolonged period of decline. Around June 2022, it achieved price stability and subsequently adopted a sideways trading pattern. During this phase, a bullish double-bottom pattern materialized on its weekly chart. Notably, there was a breakout from this pattern in the last week of August 2023, accompanied by robust trading volume. According to technical analysis, if the stock can sustain this newfound price momentum, it may undergo a reversal and shift its trajectory 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.

2. Stock name: Indian Hotels Co. Ltd.

Pattern: Flag and pole pattern

Time frame: Weekly

Observation:

Following the market crash and subsequent recovery in March-April 2020 due to the COVID-19 pandemic, the stock experienced an upward trajectory as the market rebounded. Notably, from January 2023 onwards, the stock displayed a rapid upward trend until May 2023. Subsequently, from June 2023 and up to the end of August 2023, it underwent a consolidation phase, forming a flag and pole pattern on its weekly chart. A significant breakout from this pattern, accompanied by robust trading volume, occurred during the last week of August 2023. Additionally, the MACD line exhibited a positive crossover above the base line, indicating a favorable signal. Based on technical analysis, the stock may continue its upward movement if it maintains this momentum.

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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