Stock name: Britannia Industries Ltd.

Pattern: Head and shoulders pattern

Time frame: Daily

Observation:

The stock witnessed a significant upward movement starting in April 2024. Between July and November 2024, it formed a head and shoulders pattern on the daily chart. A major breakout with strong volumes occurred on November 11, 2024, followed by a large red candle with even higher volumes. The stock has since continued its downward trend, and technical analysis indicates that the stock may further decline. It's advisable to look for additional confirmations, such as RSI levels and the MACD indicator.

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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.

Stock name: Indian Oil Corporation Ltd.

Pattern: Support breakdown

Time frame: Daily

Observation:

From October 2023 to February 2024, the stock experienced a sharp upward trend, followed by a consolidation phase with sideways movement. This resulted in the formation of a parallel channel on the daily chart. By late October 2024, the stock broke below the channel's support line, moving downward with occasional high-volume red candles. Technical analysis suggests that if this momentum persists, the stock may decline further. It's advisable to look for additional confirmations, such as RSI levels and the MACD indicator.

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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.