Shreyas Shipping | Rounding bottom | Latest stock market news 

(3 minutes read)

Stock name: Shreyas Shipping

Pattern: Rounding bottom

Time frame: Monthly

Observation:

The stock is currently forming a rounding bottom pattern and it will be complete on a weekly close above the 450 level. Once the price makes such a pattern, the price travels the distance equal to the difference between the neckline and the bottom, the distance being taken from the neckline.

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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) Indonesia extends palm oil export levy waiver to 31 oct - Trade minister

2) Adani group acquires 29.18% stake in NDTV, launches open offer for more 26%

3) IRCTC data monetization: Parliamentary panel summons company officials over passengers’ data security

4) Airport Service aggregator platform Dreamfolks Services Ltd. yesterday raised Rs. 253 crores from anchor investors ahead of its initial share sale which has opened for public subscription today. Societe Generale, BNP Paribas Arbitrage, Saint Capital Fund, Segantii India Mauritius, Kuber India Fund, Smallcap World Fund. Inc, Aditya Birla Sun Life Mutual Fund, Sundaram Mutual Fund, Quant Mutual Fund and PNB Metlife India Insurance Company Limited are among the anchor investors.