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Stock name: Laurus Labs Ltd.

Pattern: Parallel channel and breakout

Time frame: Daily

Observation:

In our 10 October 2024 blog (link for reference), we highlighted a stock trading within a parallel channel for an extended period. Around 08 October 2024, it rebounded from the channel's support and started moving upward. On 25 November 2024, the stock broke through the resistance level of the channel, continuing its bullish momentum. It is now nearing a crucial resistance level at a prior high on the daily chart, where a breakout may signal further upward movement. It's advisable to look for additional confirmations, such as RSI levels and the MACD indicator. 

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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.

Stock name: Bank of Maharashtra

Pattern: Double bottom pattern

Time frame: Daily

Observation:

The stock reached a high in early June 2024 but subsequently cooled off. Between October and November 2024, it formed a double-bottom pattern on the daily chart. Towards the end of November 2024, the stock broke out of this pattern, confirmed by subsequent green candles. A big green candle with significant volume is observed on 04 December 2024. According to technical analysis, if the stock sustains its breakout momentum, it may witness further upside. It's advisable to look for additional confirmations, such as RSI levels and the MACD indicator.

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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.

Stock name: RHI MAGNESITA INDIA Ltd.

Pattern: Support and reversal

Time frame: Daily

Observation:

The stock experienced a downward movement from December 2023 to March 2024, forming a support level on the daily chart. After consolidating since July 2024, it briefly dipped below support in November but recovered swiftly. On 03 December 2024, it posted a strong green candle above the support with decent volume. Technical analysis suggests that the stock may rise further if the current momentum sustains. It's advisable to look for additional confirmations, such as RSI levels and the MACD indicator. Top of FormBottom of FormBottom of Form

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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.

Stock name: Vardhman Textiles Ltd.

Pattern: Double bottom pattern

Time frame: Daily

Observation:

The stock has cooled down from its ATH since July 2024. It has formed a double bottom pattern between October and December 2024. A breakout was registered on 02 December 2024, confirmed by a strong green candle with good volume on 03 December. As per technical analysis if the stock is able to maintain the breakout momentum it may see further upward movement. It's advisable to look for additional confirmations, such as RSI levels and the MACD indicator.

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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.

Stock name: eClerx Services Ltd.

Pattern: Cup and handle pattern and retest

Time frame: Daily

Observation:

As noted in our 04 October 2024 blog (link for reference), the stock formed a cup and handle pattern on its daily chart and broke out in late September 2024. After a brief upward move, it retested and dipped below the breakout level. However, by 06 November 2024, the stock recovered sharply with significant volume, initiating a strong upward trend. The stock has been moving in the upward direction from there onwards. 

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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.

Stock name: Cera Sanitaryware Ltd.

Pattern: Support and reversal

Time frame: Daily

Observation:

The stock has maintained an overall upward trend, forming a high around February 2023 before cooling. In May 2023, it broke out with strong volume, and the breakout level has since acted as support. After a market-driven dip, the stock retested this support in November 2024 and rebounded with good volume around November 17-18. Post-rebound, the stock is trending upward, with technical analysis suggesting that the stock may rise further if momentum sustains. It's advisable to look for additional confirmations, such as RSI levels and the MACD indicator.

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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.

Stock name: Piramal Enterprises Ltd.

Pattern: Double bottom pattern

Time frame: Monthly

Observation:

The stock has been in a downtrend since October 2021. Between May 2022 and November 2024, it formed a double bottom pattern on the monthly chart. A breakout from this pattern occurred in November 2024, though it currently lacks strong momentum. Technical analysis indicates that if upward momentum builds, the stock may see further gains. It's advisable to look for additional confirmations, such as RSI levels and the MACD indicator. 

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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.

Stock name: Ipca Laboratories Ltd.

Pattern: Resistance breakout

Time frame: Monthly

Observation:

The stock has been in an uptrend since 2017 and registered a new all-time high (ATH) in September 2021, followed by a cooling phase. Recovery began in June 2023, with the stock retesting its previous ATH and facing resistance. A breakout occurred in September 2024, confirmed by subsequent upward momentum. If the stock sustains this trend, technical analysis suggests that the stock may move further upward. It's advisable to look for additional confirmations, such as RSI levels and the MACD indicator.

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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.

Stock name: Quess Corp Ltd.

Pattern: Support and reversal

Time frame: Daily

Observation:

The stock formed an inverted head and shoulders pattern and registered a breakout in July 2024, followed by an upward move. However, influenced by overall market sentiment, the stock retraced and, by November 2024, reached its previous breakout level, which is now acting as a support. On November 27, 2024, the stock witnessed a strong rebound with significantly high trading volumes. If it can sustain this rebound level, technical analysis suggests that the stock may move further upward. It's advisable to look for additional confirmations, such as RSI levels and the MACD indicator. 

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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.

Stock name: Swan Energy Ltd.

Pattern: Support and reversal

Time frame: Daily

Observation:

The stock has been in an overall uptrend but recently entered a phase of consolidation, moving sideways since December 2023 within a parallel channel on the daily chart. On October 25, 2024, it touched the channel's support level and rebounded strongly. This rebound was followed by multiple green candles accompanied by high trading volumes, signalling strong buying interest. If the stock sustains its current momentum, technical analysis suggests that it may see further upward movement. It's advisable to look for additional confirmations, such as RSI levels and the MACD indicator.

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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.

Stock name: PI Industries Ltd.

Pattern: Double top pattern

Time frame: Daily

Observation:

The stock has shown an overall upward trend but formed a double top pattern between July and November 2024 on its daily chart. A breakdown occurred between November 14-18, supported by significant trading volumes. Following the breakout, the stock has moved downward. If this momentum sustains, technical analysis suggests that the stock may further decline. It's advisable to look for additional confirmations, such as RSI levels and the MACD indicator. Top of FormBottom of FormBottom of Form

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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.

Stock name: General Insurance Corporation of India

Pattern: Double bottom pattern

Time frame: Daily

Observation:

The stock has cooled down and experienced a downward movement since August 2024. It has formed a double bottom pattern on its daily chart between October and November 2024. A breakout occurred on November 25, 2024, and the stock has since sustained the level, moving slightly upward. Technical analysis suggests that if the stock maintains its upward momentum, it may see further gains. It's advisable to look for additional confirmations, such as RSI levels and the MACD indicator.

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.

Stock name: Adani Green Energy Ltd.

Pattern: Island reversal

Time frame: Daily

Observation:

The stock formed a gap-up in December 2023, followed by an upward movement before reversing its trend. On November 21, 2024, it registered a gap-down, creating a bearish island pattern on the daily chart. This breakdown triggered a sharp downward movement with significant momentum. Currently, the stock is at a key support level, and if the downward momentum persists, it may see further declines. It's advisable to look for additional confirmations, such as RSI levels and the MACD indicator. Top of FormBottom of FormBottom of Form

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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.

Stock name: Apollo Tyres Ltd.

Pattern: Support and reversal

Time frame: Daily

Observation:

Since December 2023, the stock has been trading within a parallel channel, rebounding multiple times from its support level. Following a downward movement since September 2024, it again touched the support on November 14, 2024, and rebounded with strong volume support. Post-rebound, the stock has shown consistent green candles, indicating positive momentum. If this momentum continues, technical analysis suggests that the stock may see further upward movement within the channel. It's advisable to look for additional confirmations, such as RSI levels and the MACD indicator.

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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.

Stock name: Procter & Gamble Hygiene & Health Care Ltd.

Pattern: Support and reversal

Time frame: Daily

Observation:

The stock experienced strong upward movement from August to November 2023, followed by a cooling phase until March 2024. Since then, it has traded sideways, establishing a support level at around March 2024 low. On November 12, 2024, the stock rebounded from this support, showing high volumes and forming multiple green candles as it moved upward. If the momentum continues, technical analysis indicates that the stock may see further gains. It's advisable to look for additional confirmations, such as RSI levels and the MACD indicator. Top of FormBottom of FormBottom of Form

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.

Stock name: Godrej Industries Ltd.

Pattern: Support and reversal

Time frame: Daily

Observation:

The stock has been trending upward since April 2023 and formed a cup and handle pattern between May and August 2024, followed by a breakout. The breakout level now acts as support. The stock has seen a good upward movement after the breakout before declining in line with the broader market. On November 18, 2024, it rebounded strongly with high volumes around the support level. If the stock sustains its momentum, technical analysis suggests that it may see further gains. It's advisable to look for additional confirmations, such as RSI levels and the MACD indicator.

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.

Stock name: UTI Asset Management Company Ltd.

Pattern: Resistance breakout and retest

Time frame: Weekly

Observation:

The stock, listed in October 2020, saw a steady rise until September 2021 before reversing into a downward trend. It began improving only after June 2023, eventually surpassing its previous high in September 2024. Following the breakout, the stock retested the breakout level and rebounded strongly with good volume by late October 2024. According to technical analysis, sustaining the rebound momentum may lead to further upward movement. It's advisable to look for additional confirmations, such as RSI levels and the MACD indicator. Top of FormBottom of FormBottom of Form

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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.

Stock name: Aditya Birla Sun Life AMC Ltd.

Pattern: Resistance breakout and retest

Time frame: Weekly

Observation:

The stock debuted on the NSE in 2021 and experienced a downward trend until March 2023. It then recovered to its listing levels by July 2024, forming a resistance line where it lingered before breaking out in August. Despite the breakout, the stock showed low upward momentum and underwent a retest. By mid-October 2024, it rebounded strongly with significant trading volume, boosting its upward momentum. If the current momentum holds, technical analysis suggests the stock may continue to rise further. It's advisable to look for additional confirmations, such as RSI levels and the MACD indicator.

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.