Stock name: Piramal Enterprises Ltd.
Pattern: Double bottom pattern
Time frame: Monthly
Observation:
The stock has been in a downtrend since October 2021. Between May 2022 and November 2024, it formed a double bottom pattern on the monthly chart. A breakout from this pattern occurred in November 2024, though it currently lacks strong momentum. Technical analysis indicates that if upward momentum builds, the stock may see further gains. It's advisable to look for additional confirmations, such as RSI levels and the MACD indicator.
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.
Stock name: Ipca Laboratories Ltd.
Pattern: Resistance breakout
Time frame: Monthly
Observation:
The stock has been in an uptrend since 2017 and registered a new all-time high (ATH) in September 2021, followed by a cooling phase. Recovery began in June 2023, with the stock retesting its previous ATH and facing resistance. A breakout occurred in September 2024, confirmed by subsequent upward momentum. If the stock sustains this trend, technical analysis suggests that the stock may move further upward. It's advisable to look for additional confirmations, such as RSI levels and the MACD indicator.
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.
