Stock name: Central Depository Services (India) Ltd.
Pattern: Resistance breakout
Time frame: Daily
Observation:
The stock reached its previous high on August 23, 2024, and has since been consolidating, forming a resistance level on its daily chart. Despite multiple attempts, the stock struggled to break past this level. However, on December 4, 2024, it experienced a significant breakout, confirmed by a massive green candle and high trading volume in the next session. With this momentum, the stock is currently moving in the all-time high levels, and technical analysis indicates that it may rise further if the trend continues. 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: Data Patterns (India) Ltd.
Pattern: Triple bottom pattern
Time frame: Daily
Observation:
The stock hit its all-time high in July 2024 but has since trended downward. Between September and December 2024, it formed a triple-bottom pattern on the daily chart. On December 4, 2024, the stock broke out with high volumes and sustained this level in the following session. If the breakout momentum continues, 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.
