Bayer Crop Science| Flag and Pole | Latest stock market news(3 minutes read)

Stock name: Bayer Crop Science

Pattern: Flag and Pole

Time frame: Daily

Observation: The stock has moved up rapidly in the past few days, and is now consolidating in a very narrow range .The stock has created a flag and pole pattern and may break-out or break-down of the same. If the stock breaks out of the pattern, the stock covers the distance equal to the size of the pole. The volume built-up on the up-move is also above average.

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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.

News for the day:

1) RBI increased the repo rate by 50 basis points, taking it to 4.9%. The central bank also raised both the Standing Deposit Facility (SDF) rate and the Marginal Standing Facility (MSF) rate by 50 bps to 4.65% and 5.15%, respectively.

2) India to be $20 tn economy by 2040 & $5 tn economy by 2026-27, says RBI Chief Economic Adviser V Anantha Nageswaran.

3) Mphasis sets up delivery centre in Alberta, Canada; to hire 1,000 people. The Blackstone-backed IT services major Mphasis will offer its next-generation digital technology services to both existing and new Fortune 500 clients through this centre.