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Stock name: JM Financial Ltd.

Pattern: Cup and handle pattern

Time frame: Daily

Observation:

According to the blog from September 4, 2024, the stock formed a cup and handle pattern on its daily chart, breaking out at the end of August. Post-breakout, it saw significant upward momentum supported by strong trading volumes. From September 4 to October 1, 2024, the stock surged over 25%.

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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: Aptus Value Housing Finance India Ltd.

Pattern: Double bottom pattern and retest

Time frame: Daily

Observation:

As mentioned in the blog on September 26, 2024, the stock formed a double bottom pattern on its daily chart, breaking out on September 20 with strong trading volume. However, due to overall bearish market sentiment, it retraced and retested the breakout level. The stock has since rebounded with significant volume, and technical analysis suggests that if it maintains this momentum, the stock may see further upward movement. Additionally, the stock has repeatedly encountered resistance at its all-time high (ATH), making this level critical for its future performance. 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: Gillette India Ltd.

Pattern: Resistance breakout and retest

Time frame: Weekly

Observation:

The stock reached its previous all-time high (ATH) in 2019 but experienced a downward trend afterward. Recovery began in March 2023, though it encountered resistance around the 8100 level, near its previous ATH. In August 2024, the stock broke through this resistance, followed by an upward move with significant trading volume. Currently, it is undergoing a retest with lower volume, in line with overall market conditions. Technical analysis suggests that if the stock rebounds with strong momentum, the stock may see further improvement. 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: Home First Finance Company India Ltd.

Pattern: Resistance breakout

Time frame: Weekly

Observation:

Since its listing in 2021, the stock has been trading within a parallel channel. Towards the end of August 2024, it broke out of this pattern, followed by an upward movement supported by strong trading volume. According to technical analysis, if the stock maintains its breakout momentum, it may see further rise. 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.

The frontline indices, Sensex and Nifty 50, lost about 4.5% each this week, marking their worst performance since June 2022. The bulk of the decline came from a 2% drop on Thursday. After three consecutive weeks of positive returns, the indices ended the September 30-October 4 week on a downbeat note, retreating over 5% from their record highs on September 27.

The escalating Middle East conflict, particularly between Israel and Iran, has heightened concerns over potential crude oil supply disruptions from the region, which accounts for one-third of global oil production. This has caused a sharp rise in crude oil prices, adversely affecting net importers like India. Brent crude futures surged by over 10% this week, with a 1% increase on Friday alone.

The conflict has also raised concerns about oil passing through the critical Strait of Hormuz, with fears that Israel may target Iran's major oil fields, potentially pushing prices even higher. While OPEC+'s December supply-output plan has limited the gains, Corporate India remains worried about the rising freight costs and disruptions to air shipping routes.

One-fifth of the world’s crude passes through the Strait of Hormuz. Fears are mounting that Israel could retaliate by targeting Iran's major oil fields, which would likely push oil prices even higher. The only factor limiting the gain in oil prices is the December supply-output plan by the Organisation of Petroleum Exporting Countries and its allies (OPEC+).

The spike in oil prices could impact several sectors in India, including aviation, automotive, and chemicals. ICRA warns that higher crude prices could pose risks to WPI-based inflation and, to a lesser extent, CPI inflation for FY25. Persistent increases in oil prices may also dampen GDP growth and lead to sustained higher interest rates until geopolitical tensions subside.

Stock name: Syngene International Ltd.

Pattern: Cup and handle pattern and retest

Time frame: Daily

Observation:

Since the post-Covid period, the stock has experienced significant upward movement. Between September 2023 and August 2024, it formed a cup and handle pattern on its daily chart, with a breakout at the end of August 2024. Following the breakout, the stock saw strong upward movement with solid volume support but later faced a retest. Currently, it appears to have rebounded above the breakout line from the retest and is moving upward again. According to technical analysis, if the stock gains strong momentum from this rebound, the stock may move in further upward direction. 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

Time frame: Daily

Observation:

The stock has followed an upward trend since the post-Covid period. From January to September 2024, it formed a cup and handle pattern on its daily chart. In late September 2024, the stock experienced a strong breakout, supported by substantial volume, and has been moving upward since. According to technical analysis, if the current momentum is maintained, the stock 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: Radico Khaitan Ltd.

Pattern: Cup and handle pattern

Time frame: Daily

Observation:

According to the blog from 4th September 2024 (link for reference), this stock formed a cup and handle pattern on its daily chart from 25th June to 30th August 2024. It broke out from the pattern on 30th August, followed by an upward movement supported by high volume. Since the breakout, the stock has risen by around 20% till 19th September 2024.

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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: Amber Enterprises India Ltd.

Pattern: Cup and handle pattern and retest

Time frame: Daily

Observation:

The stock formed a cup and handle pattern on its daily chart from February to September 2024, breaking out on 23rd September 2024. After the breakout, it experienced a sharp retest on the next candle but managed to rebound. However, strong volume support is still lacking to confirm upward momentum. If the stock gains momentum, technical analysis suggests that the stock 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: Affle (India) Ltd.

Pattern: Resistance breakout

Time frame: Monthly

Observation:

The stock had been seen consolidation from February 2021 onwards. This has led to movement in a parallel channel on the monthly chart. In the month of August 2024, the stock has registered a breakout from the pattern with a support of good volume. The stock was able to sustain the breakout level in the following month. According to technical analysis, if the stock can maintain upward momentum, it may experience 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: Lupin Ltd.

Pattern: Rounding bottom pattern

Time frame: Monthly

Observation:

The stock reached its previous all-time high in October 2015 and has been in a downward trend since. However, from 2023, it started to recover, forming a rounding bottom pattern on the monthly chart from 2015 to 2024. In August 2024, the stock broke out of this pattern, and the following candle maintained the breakout level. If it sustains this momentum, then as per technical analysis the stock 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: EPL Ltd.

Pattern: Double bottom pattern

Time frame: Weekly

Observation:

The stock had been in a downward trend since August 2020 before stabilizing and forming a double bottom pattern on its weekly chart. In August 2024, it broke out of this pattern with solid volume, showing slight upward movement but facing resistance. The stock still needs a strong breakout to overcome this resistance. According to technical analysis, if the stock can maintain upward momentum, it may experience 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: Asahi India Glass Ltd.

Pattern: Resistance breakout

Time frame: Weekly

Observation:

The stock experienced a strong upward trend but entered a consolidation phase starting September 2022, facing resistance around the 690-700 levels. In September 2024, it broke through this resistance with significant volume, and the breakout was sustained in the following session. Based on technical analysis, if the stock continues this momentum, it 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.

Shares of metal producers like Tata Steel, Vedanta, JSW Steel, Jindal Steel, NMDC, and National Aluminium rose by as much as 6% on Tuesday, driven by China's new measures to boost its property market. China, the largest consumer of metals globally, is implementing economic policies that are seen as positive for the commodities sector. Among the top gainers were National Aluminium, NMDC, Tata Steel, Vedanta, JSW Steel, and Jindal Steel, which led the rally in metal stocks.

China is the largest consumer of metals and moves to boost economic activity are seen as a positive for commodities. According to reports, China plans to lower interest rates on existing mortgage loans and standardize down payment ratios for mortgage loans. Analysts anticipate that the Chinese government will further reduce the outstanding mortgage rates and ease down payment requirements for second-home buyers. Additionally, there may be opportunities for borrowers to renegotiate or refinance existing mortgages. The government also intends to enhance its re-lending program for state-owned enterprises to help reduce unsold property inventories.

While these measures are expected to spur a short-term rebound in metal prices, analysts remain cautious. The Chinese housing market has been struggling for the past four years, and experts suggest that unless property prices stabilize and unsold inventory decreases, government initiatives may not fully revive the market. Therefore, the rally in metal prices could fall short of expectations, as has happened in the past.

China's new stimulus measures come shortly after the US Federal Reserve implemented a significant interest rate cut, the first in over four years. As China plays a critical role in driving global demand for base metals, its efforts to bolster economic activity could result in increased demand for metals, benefiting investors in the sector.

While the rise in metal stocks is encouraging, analysts urge caution. The sustainability of this rally will depend on the success of China's initiatives and their ability to stabilize the housing market. Investors should remain watchful, as historical trends suggest that short-term rebounds in metal prices often do not meet initial expectations, particularly if broader economic challenges persist.

Stock name: JSW Infrastructure Ltd.

Pattern: Falling wedge pattern

Time frame: Daily

Observation:

After reaching an all-time high (ATH), the stock formed a falling wedge pattern on the daily chart from July to September 2024. A breakout occurred on September 23, 2024, supported by strong volume. In the following trading sessions, the stock has maintained its upward momentum. If it continues to hold this momentum, technical analysis suggests that the stock 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: Bajaj Finance Ltd.

Pattern: Resistance breakout

Time frame: Daily

Observation:

The stock underwent a prolonged consolidation, moving within a parallel channel from January to September 2024. On September 18, 2024, it broke out of the channel with strong volume. After a brief retest of the breakout level, the stock quickly rebounded. If the current momentum holds, technical analysis suggests that the stock may move further upwards. 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.