There are no items in your cart
Add More
Add More
| Item Details | Price | ||
|---|---|---|---|
1. Stock name: Kalyan Jewellers India Ltd.
Pattern: Flag and pole pattern
Time frame: Daily
Observation:
The stock made its NSE debut on March 26, 2021, and since then, it has consistently followed an upward trajectory. A notable surge occurred between August 3 and August 16, 2023, followed by a period of consolidation, giving rise to a flag and pole pattern on the stock's daily chart. The breakout from this pattern can be observed on August 29, 2023, accompanied by slightly above-average trading volumes. Moreover, as of August 30, 2023, the stock's opening price exceeded the breakout line. According to technical analysis, the stock may sustain its upward movement if the current momentum holds.
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.
--------------------------------------------------
2. Stock name: Aarti Industries Ltd.
Pattern: Double bottom pattern
Time frame: Daily
Observation:
Since October 2021, the stock has maintained a downward trend until July 2023, when a brief consolidation occurred. A bullish double bottom pattern emerged on the daily chart, followed by a high-volume breakout on August 29, 2023. Today on 30th Aug 2023, the stock opened above this breakout point and is currently undergoing a retest of this level. As per technical analysis, if the stock is able to sustain this breakout level and bounce back from the retest, it may move further in an upward direction.
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) Indian automakers Tata Motors and Mahindra and Mahindra have been granted domestic value certificates, vital for qualifying for payouts under India's $24 billion production-linked incentive program launched in 2020 to boost manufacturing jobs. The scheme covers 14 sectors including autos and electronics, with the government expecting more applications and reviewing the program amid industry demands for faster payouts.
2) After a 20-year tenure, Parag Shah, the head of Mahindra & Mahindra's venture capital arm, Mahindra Partners, has stepped down to establish his own venture. The move follows the company's pivot towards consolidating existing operations and reducing investments through the VC unit, which Shah played a pivotal role in growing and leading investments.
3) Gokaldas Exports Limited (GEL) saw its shares surge by 20% to hit the upper circuit on Tuesday, resulting in a doubling of its share price in 2023. The rise to Rs 735.35 per share came after the announcement of GEL's acquisition of Atraco Group, a major apparel manufacturer in the US and Europe, through its subsidiaries. The equity value of the $55 million transaction is set to close by Q3 2023-24, enhancing GEL's presence in the garment export industry.