Technical Analysis of PRINCEPIPE and GICRE

Stock name: Prince Pipes and Fittings Ltd.

Pattern: Double top pattern

Time frame: Monthly

Observation:

The stock experienced a strong upward movement since its listing but formed a double-top pattern on the monthly chart between April 2021 and October 2024. A breakdown from this pattern occurred with the October 2024 candle, followed by a downward trend on low volumes. According to technical analysis, if the stock gains stronger downward momentum, it may continue its 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: General Insurance Corporation of India

Pattern: Rounding bottom pattern

Time frame: Monthly

Observation:

Listed on the NSE in 2017, the stock initially declined post-listing but began recovering in November 2022, reaching its listing level by late 2024. This recovery formed a rounding bottom pattern on the monthly chart. After facing some resistance, the stock achieved a breakout in December 2024 with strong volumes. Technical analysis suggests that if the breakout momentum sustains, the stock may move further upward. 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.