Stock name: Pricol

Pattern: Breakout

Time frame: Daily

Observation:

The stock has been into a box consolidation for the last 6 months and has today broken out of the same. Once the stock breaks out of the such a consolidation, the target is usually equal to the height of the box.

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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) Reliance Retail Ventures, the retail arm of Reliance Industries has roped in R S Sodhi, dairy industry veteran and former MD of Gujarat Cooperative Milk Marketing Federation, which sells milk and value-added milk products under the Amul brand.

2) One 97 Communication, parent of Paytm, reported a 27% YoY jump in its average monthly transacting users at 90 million for the quarter ended 31 March 2023. Meanwhile, its loan distribution business witnessed a 206% jump in disbursements at Rs. 4,468 crores for March with 4.1 million loans (up 63% YoY) disbursed during the month, the exchange filing by Paytm showed.

3) The United States is going to hell, said former President Donald Trump in a jibe at Joe Biden's administration while addressing a public gathering on Tuesday night.