Stock name: Blue Star Ltd.
Pattern: Cup and handle pattern
Time frame: Daily
Observation:
The stock has been in a prolonged uptrend and formed a cup and handle pattern between June and September 2024 on the daily chart. A breakout occurred on 23rd September 2024, backed by good trading volume, with the stock holding above the breakout level and continuing to rise. According to technical analysis, if the stock sustains this breakout, 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: Linde India Ltd.
Pattern: Inverse head and shoulders pattern
Time frame: Daily
Observation:
The stock has seen some cooling off from its ATH since May 2024. During the period from July 2024 to September 2024, the stock has formed an inverse head and shoulders pattern. The stock has registered a breakout from the pattern on 23rd September 2024 which was supported by a good volume. The stock has managed to hold above the breakout level in the subsequent trading sessions. As per technical analysis, if the breakout momentum continues, the stock 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.
