Stock name: TVS Motor Company Ltd.
Pattern: Head and shoulders pattern and retest
Time frame: Daily
Observation:
The stock has been in an overall uptrend but recently formed a head and shoulders pattern on the daily chart from June to December 2024. It broke down from the pattern on December 30, 2024, with high volumes but quickly retested and closed above the breakdown level. However, the stock resumed its downward movement on January 3, 2025. According to technical analysis, if the current momentum continues, the stock may see further fall. 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: Zomato Ltd.
Pattern: Double top pattern and retest
Time frame: Daily
Observation:
The stock has been in an uptrend since July 2022, reaching an all-time high in December 2024. However, it formed a double top pattern on the daily chart between September 2024 and January 2025, breaking down from the pattern on January 13, 2025, with low volume, followed by an immediate retest. On January 20 and 21, the stock experienced significant downward movement with high volumes. If the current momentum persists, further decline may be expected based on technical analysis. 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.
