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.
