1. Stock name: Shyam Metalics and Energy Ltd.

Pattern: Cup and handle pattern

Time frame: Weekly

Observation:

The stock is listed on the NSE in June 2021. Post listing the stock underwent a phase of sideways movement from August 2021 to December 2023. Notably, during this period, the stock's weekly chart revealed the formation of a cup and handle pattern. The commencement of December 2023 marked a significant development as the stock successfully broke out from this pattern, supported by above-average trading volume. Furthermore, the breakout coincided with a positive signal on the MACD indicator. According to technical analysis, the stock may see further upward movement if it can sustain the existing momentum.

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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: Birlasoft Ltd.

Pattern: Rounding bottom pattern

Time frame: Weekly

Observation:

Between January 2022 and October 2023, the stock exhibited a dynamic trajectory, initially witnessing a downward trend until April 2023, followed by a subsequent upward movement. This pattern contributed to the formation of a rounding bottom on the stock's weekly chart during this period. Notably, in late October 2023, the stock successfully broke out from this rounding bottom pattern, accompanied by above-average trading volume. Post-breakout, the stock has consistently maintained its upward trajectory. As per technical analysis, the stock may continue its upward movement if it can sustain the present momentum.

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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.

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News for the day:

1) Mahindra & Mahindra's subsidiary, Classic Legends Pvt Ltd, is poised to receive a fund infusion of Rs 875 crore, with Mahindra committing Rs 525 crore through the subscription to Compulsorily Convertible Preference Shares (CCPS) and equity, alongside an additional Rs 350 crore from existing shareholders and new investors. The investment aims to support the production of iconic motorcycle brands such as Yezdi and Jawa.

2) Mahindra & Mahindra's subsidiary, Classic Legends Pvt Ltd, is poised to receive a fund infusion of Rs 875 crore, with Mahindra committing Rs 525 crore through the subscription to Compulsorily Convertible Preference Shares (CCPS) and equity, alongside an additional Rs 350 crore from existing shareholders and new investors. The investment aims to support the production of iconic motorcycle brands such as Yezdi and Jawa.

3) Mahindra & Mahindra's subsidiary, Classic Legends Pvt Ltd, is poised to receive a fund infusion of Rs 875 crore, with Mahindra committing Rs 525 crore through the subscription to Compulsorily Convertible Preference Shares (CCPS) and equity, alongside an additional Rs 350 crore from existing shareholders and new investors. The investment aims to support the production of iconic motorcycle brands such as Yezdi and Jawa.