1. Stock name: UNO Minda Ltd.

Pattern: Flag and pole pattern

Time frame: Monthly

Observation:

Following the COVID-19 pandemic, the stock experienced a rapid surge in price from November 2020 to December 2021. Subsequently, between January 2022 and November 2023, it stabilized, forming a flag and pole pattern on the monthly chart. The stock broke out from this pattern in November 2023, accompanied by above-average trading volume, and is currently moving upward, supported by positive indications on the MACD indicator. Technical analysis suggests that the stock may see further upward movement if the current momentum is sustained.

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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: PB Fintech Ltd.

Pattern: Cup and handle pattern and retest

Time frame: Weekly

Observation:

Since its 2021 listing, the stock initially faced a decline but later stabilized, exhibiting a cup and handle pattern on its weekly chart between April 2022 and November 2023. November 2023 saw a breakout, yet the stock faced significant volatility and closed below the breakout line. Presently, it is on an upward trajectory, aiming to close above the breakout line. Currently, the stock's RSI is at a favourable level, and the MACD indicator shows promising movement, indicating a favourable signal. Technical analysis suggests that if the current momentum persists, the stock may continue its upward movement.

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) Tata Consumer Products Ltd (TCPL) is set to acquire a 75% stake in Capital Foods from existing investors, including Invus Group and General Atlantic, valuing the company at Rs 5100 crore. Additionally, TCPL will purchase a controlling stake in Organic India for a Rs 1800 crore valuation from Fab India. These acquisitions aim to broaden TCPL's product portfolio, enter new markets, and tap into the growing market for organic and wellness products, with an official announcement expected by early next week.

2) Hindustan Unilever (HUL) has introduced a new margin structure for its distributors, providing an opportunity for them to earn an additional 70 basis points with higher returns on investment. However, this move has led to concerns from FMCG distributors in Maharashtra, including a reported boycott threat, as HUL downplays the rift, emphasizing a "pay for performance" principle and stating their terms of trade are bilateral, addressing concerns when approached.

3) Kalyani Steels Ltd has successfully bid to acquire the assets of Kamineni Steel and Power India under liquidation, involving a cash consideration of Rs 450 crore to be paid by April 7, 2024. The assets include land, buildings, and plant machinery, aligning with Kalyani Steels' expertise as a leading manufacturer of carbon and alloy steels within the Kalyani Group.