Technical Analysis of LEMON TREE HOTELS & KEYSTONE REALTORS

1. Stock name: Lemon Tree Hotels Ltd.

Pattern: Cup and handle pattern

Time frame: Weekly

Observation:

The stock was listed on the NSE on April 9, 2018, and has largely maintained a sideways trading pattern since its debut. This extended period of consolidation led to the formation of a bullish cup and handle pattern on the stock's weekly chart. The significant development occurred during the fourth week of August 2023 when this pattern experienced a breakout, accompanied by substantial trading volumes. Following this breakout, the stock has continued to exhibit a slight upward trend in subsequent trading sessions. According to technical analysis, if the stock can sustain this favorable price momentum, it may move further upwards.

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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2. Stock name: Keystone Realtors Ltd.

Pattern: Flag and pole pattern

Time frame: Weekly

Observation:

The stock debuted on the NSE on November 24, 2022, and initially exhibited a slight downward trajectory until May 2, 2023. However, from May 2nd onwards, it embarked on a rapid recovery journey, which continued until July 10, 2023. Following this resurgence, the stock entered a consolidation phase, forming a flag and pole pattern on its weekly chart. Notably, this pattern broke out during the final week of August 2023, accompanied by above-average trading volumes. As of the week commencing September 4, 2023, the stock opened above the breakout line, and its RSI remains in a healthy range of approximately 65. In accordance with technical analysis, if the stock is able to sustain this momentum it may move in an upward direction.

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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