Stock name: Inox Wind Limited

Pattern: Pole and flag pattern

Time frame: Daily

Observation:

We covered this stock analysis on 10^th July as it was breaking out of a cup and handle pattern, which is a bullish pattern. Today, the stock is breaking out of a pole and flag pattern, which is also a bullish pattern and presents a confluence to the earlier bullish analysis.

As per technical analysis, if multiple things confirm the same thing, then the probability of it working out increases.

You may add this to your watchlist to understand further price action.

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

News for the day:

1) Vijayawada: Canara bank staff union opposes privatization of public sector banks

2) Shares of Aarti Drugs rallied over 19% today after the firm's consolidated net profit jumped 38% to Rs. 48 crores for the first quarter ended June. It was Rs. 34.8 crores in the year ago period.

3) The total incentive outgo under the ambitious PLI scheme is estimated to be less than Rs. 40,000 crores by the FY25, when it completes the fourth year of implementation, according to the government’s estimates.