Stock name: Bank of Maharashtra

Pattern: Pole and flag pattern

Time frame: Daily

Observation:

The stock has been in consolidation since December 2022 but has recently picked up upside momentum and has formed a pole and flag pattern. Once the stock breaks out of such a pattern, it generally travels a distance equal to the length of the pole.

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Disclaimer: This analysis is purely for educational purposes and does not contain any recommendations. Please consult your financial advisor before taking any financial decision.

News for the day:

1) Q4 result update: Krishana Phoschem
    Revenue up 78.74% YoY
    PBT down 12% YoY
    OPM at 12.87%, very low as compared to the last 4 quarters

2) Adani Ports will buy outstanding senior notes due 2024 for a cash consideration of $130 million, the company today informed the stock exchanges. The move is with a view to partly prepay the company’s near-term debt maturities and to convey the comfortable liquidity position of the Company.

3) Wipro has informed us about its plan for share buyback. It informed share buyback will be considered in the company's upcoming board meeting scheduled on 26^th April.

4) AU small finance bank, Bajaj Auto, Dalmia Bharat, Elecon Engineering, HDFC AMC, Mahindra CIE, Meghmani fintech, Nestle, Nippon, RS Software, Tata Consumer Products, Tata Steel Long, VST Industries are amongst the companies which will post their quarterly results tomorrow.