Stock name: Network18 Media & Investments Ltd.
Pattern: Support and breakdown
Time frame: Weekly
Observation:
After hitting a high in January 2024, the stock cooled down and moved in the downward direction. It has observed support on the weekly chart by May 2024. It traded sideways for months, repeatedly testing this support line until December 2024. Mid-December, the stock broke below the support, resuming its downward trend. Based on technical analysis, continued momentum may lead to further declines. 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: Mahindra Lifespace Developers Ltd.
Pattern: Head and shoulders pattern and retest
Time frame: Weekly
Observation:
The stock experienced a strong upward movement starting in March 2023. However, between December 2023 and October 2024, it formed a head and shoulders pattern on the weekly chart. A breakdown occurred in October 2024 but with low volumes. The stock has observed retest of the breakdown level. Since December 2024, the stock has resumed its downward movement, and technical analysis suggests further declines may occur if momentum builds. 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.
