Technical Analysis of SUZLON & NAVINFLUOR

Technical Analysis of SUZLON & NAVINFLUOR

Stock name: Suzlon Energy Ltd.

Pattern: Cup and handle pattern

Time frame: Daily

Observation:

The stock has risen significantly since May 2023. During the period from February 2024 to June 2024 the stock has formed a cup and handle pattern on its daily chart. It is now close to breaking out of this pattern. Currently, the MACD indicator shows a bullish signal, and the RSI levels of the stock are in favourable zone. Technical analysis suggests that if the stock breaks out and gains momentum, 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.

Stock name: Navin Fluorine International Ltd.

Pattern: Double bottom pattern

Time frame: Daily

Observation:

The stock declined from May 2023, stabilizing and forming a double bottom pattern between January and June 2024. It broke out from this pattern on June 11, 2024, with above-average trading volume and a bullish MACD indicator. Since the breakout, the stock has moved upward. Currently, the RSI is in the overbought zone, suggesting a potential retest. As per technical analysis, if the stock maintains its current momentum, 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.

 

News for the day:

  • Sun Pharmaceutical Industries has signed a licensing deal with Takeda Pharmaceutical to market Vonoprazan, a new gastrointestinal drug, in India. The agreement allows Sun Pharma to commercialize 10 mg and 20 mg tablets of this treatment for acid peptic disorders under a non-exclusive patent license. Approved by the US FDA in November 2023, Vonoprazan is now authorized in India.

  • Tata Motors launched Fleet Verse, a digital marketplace for its commercial vehicles, enabling users to discover, configure, purchase, and finance vehicles online through its dealership network. Key features include smart search, a product configurator, 3D visualizer, and online booking. Tata Motors will raise commercial vehicle prices by up to 2% from July 1, 2024, due to rising commodity costs. In May, the company sold 29,691 commercial vehicles, a 2% increase from the previous year.

  • Vodafone Idea (Vi), supported by an ₹18,000 crore fund-raise, is enhancing its 4G coverage and network capacity in Uttar Pradesh and Uttarakhand. The company is deploying additional airwaves in the 900 MHz band to improve indoor network experiences and signal penetration in both urban and rural areas. This deployment aims to address coverage challenges in regions with dense building infrastructure and signal penetration issues.
Leave your comment