Observation

As we can see on the weekly chart there is a rounding bottom pattern with very good volume after three times continue rejection from 1300 level now it is breakout 1300 level with good volume. it can retrace till 1300 level after that it can go furthermore till 1560 levels.

Technical Analysis & indicators

Weekly chart

News of the day

1. Bharti Airtel, India's no. 2 telecom operator by subscribers, will hike tariffs across all its plans from July 3, the company said on Friday. Shares in the company rose 4.1% in pre-market trading after the news but trimmed most of its gains to trade 0.7% higher. Bharti Airtel's move to hike prices comes a day after market leader Reliance Industries'! Jio InfoComm announced tariff hikes for its prepaid and postpaid plans.

2.  TVS Motor set up a wholly owned subsidiary in Dubai, according to an Indian bourse filing on Thursday.

   The new entity will be engaged in consultancy research and studies on business performance in the Middle East and African markets, the filing said.
   

Educational Content

This stock analysis is designed for educational purposes and should not be taken as professional financial advice. Please carry out your own research or consult with a financial advisor before investing.

Fri Jun 28, 2024