Technical Analysis of CHOLAHLDNG & KFINTECH

Technical Analysis of CHOLAHLDNG & KFINTECH

Stock name: Cholamandalam Financial Holdings Ltd.

Pattern: Flag and pole pattern

Time frame: Weekly

Observation:

Between March and September 2023, the stock experienced a rapid rise. Since September, it has consolidated, forming a flag and pole pattern on the weekly chart. In June 2024, the stock broke out of this pattern with above-average trading volume and a bullish MACD indicator. Following the breakout, the stock continued to move rapidly upwards. Technical indicators suggest that if the current momentum is sustained, the stock may climb even higher.

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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: Kfin Technologies Ltd.

Pattern: Double bottom pattern and retest

Time frame: Daily

Observation:

Since May 2024, the stock has declined, forming a double bottom pattern on the daily chart. On July 2, 2024, it broke out of this pattern with above-average trading volume and a positive MACD breakout. After the breakout, the stock moved slightly upward but immediately faced a retest. Currently, the RSI is in a favourable zone. According to technical analysis, if the stock rebounds from the retest, it may continue to rise.

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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