1. Stock name: GMR Airports Infrastructure Ltd.

Pattern: Rounding bottom pattern

Time frame: Monthly

Observation:

The stock recently reached its June 2009 level, forming a rounding bottom pattern on the monthly chart from June 2009 to December 2023. In December 2023, a breakout occurred with substantial trading volume, propelling the stock upward. Post breakout the stock has moved in the upward direction. According to technical analysis if the stock is able to maintain this momentum, it may lead to continued upward movement for the stock.

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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: Samvardhana Motherson International Ltd.

Pattern: Cup and handle pattern

Time frame: Weekly

Observation:

From April 2022 to January 2024, the stock displayed sideways movement, shaping a cup and handle pattern. The pattern witnessed a breakout in the first week of January 2024, accompanied by above-average trading volume and a positive MACD signal. Following the breakout, the stock has consistently trended upward. As per technical analysis, if the stock sustains its momentum, further upward movement may be anticipated.

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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1) Glenmark has signed a licensing agreement with Jiangsu Alphamab 3D Medicines for a cancer drug. This collaboration aims to enhance access to cancer treatment options, leveraging Glenmark's pharmaceutical expertise and Alphamab's innovative approach. The partnership focuses on advancing cancer care through joint efforts in drug development and distribution.

2) Jindal Power has withdrawn from the bidding process to acquire Lanco Amarkantak, as reported by Economic Times. The decision marks Jindal Power's exit from the race for the power plant, leaving the field open for only three bidders - Adani Power, Reliance Industries and Power Finance Corporation-led consortium.

3) Azim Premji has gifted Wipro shares worth Rs 500 crore to his sons, Rishad and Tariq. This significant gift reflects the philanthropist's move to pass on a portion of his wealth to the next generation. The shares transfer is part of Azim Premji's ongoing efforts in wealth management and succession planning within the family.