Technical Analysis of BOSCHLTD & RAYMOND

1. Stock name: Bosch Ltd.

Pattern: Rounding bottom pattern

Time frame: Monthly

Observation: 

Since 2015, the stock has declined until COVID-19, then found stability. Subsequently, it rebounded, forming a rounding bottom pattern on its monthly chart spanning from February 2015 to February 2024. February 2024 saw a breakout from this pattern, accompanied by robust trading volume. Following the breakout, the stock trended upward. According to technical analysis, sustaining this breakout momentum may propel the stock higher.

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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.

2. Stock name: Raymond Ltd.

Pattern: Double bottom pattern and retest

Time frame: Daily

Observation:

From September 2023, the stock experienced a downward trend before stabilizing, forming a double bottom pattern on its daily chart. A breakout from this pattern occurred on April 3, 2024, backed by above-average trading volume. Following the breakout, there was a significant retest of the breakout level, leading to a favourable cooling off of the RSI. According to technical analysis, a successful rebound from this retest may signal further upward movement for the stock.

You may add this to your watch list to understand further price action.

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

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News for the day:

1) Ramkrishna Forgings makes its foray into the US EV market by supplying powertrain components to the largest producer, leading to a 3% surge in shares. This move reflects their dedication to innovation and sustainable mobility, complementing their recent orders for Vande Bharat train sets.

2) Reliance Consumer Products (RCPL), a subsidiary of Reliance Industries, achieved remarkable success in its debut year, raking in sales of ₹3,000 crore in FY24. Notably, beverage brand Campa Cola contributed ₹400 crore to this feat. RCPL aims to sustain its sales growth by focusing on staples and beverages, with plans to raise ₹500-₹700 crore this fiscal to expand Campa Cola's bottling capacity. This milestone surpasses the sales of established players like Emami, underscoring RCPL's rapid ascent in the FMCG sector.

3) Vodafone Idea's FPO opened today, driving a 4% surge in its stock to Rs 13.48, with notable interest from investors like GQG Partners. Vi raised Rs 5,400 crore from 74 anchor investors, including UBS and Morgan Stanley Investment Management. Despite investor enthusiasm, analysts warn of the company's high debt load for retail investors.