Stock name: Motilal Oswal Financial Services Ltd.
Pattern: Double top pattern
Time frame: Daily
Observation:
The stock has experienced significant upward movement since March 2023. Recently, it formed a double top pattern on its daily chart. Currently the stock is yet to breakout from this pattern therefore this line is acting as a support line. Presently, the stock's RSI level is very low. According to technical analysis, if the stock moves downward past the breakout line, it may continue to decline further.
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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: Flag and pole pattern
Time frame: Weekly
Observation:
The stock has been on an upward trend since April 2023 and consolidated from March to July 2024, forming a flag and pole pattern on its weekly chart. It broke out of this pattern in early July 2024, supported by high trading volume and a bullish MACD indicator. Technical analysis suggests that if the breakout momentum continues, the stock may move further upwards.
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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