Vedant Fashions | Trendline support | Latest stock market news(3 minutes read)

Stock name: Vedant Fashions

Pattern: Trendline support

Time frame: Daily

Observation:
After its listing, the stock was into a brief consolidation and then started its up-trend. The stock is currently continuing the up-trend and is respecting the support trendline as shown in the image below.

If the stock breaks such a support trendline, we can see a momentum loss / potential reversal.You may add this to your watchlist 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.

News for the day:

1. Q2 result update: Praj Industries
Consolidated revenue up 64.8% YoY

Consolidated PBT up 40% YoY

OPM at 8%, amongst lowest in the last many quarters

2. The Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi has approved the increase in the Minimum Support Prices (MSP) for all mandated Rabi Crops for Marketing Season 2023-24.

3. Nestle India says fresh milk, fuels, grains and green coffee costs expected to remain firm with continued increase in demand.

4. Aarti drugs, Aavas financers, Asian Paints, Axis Bank, Bajaj Finance, Canara Bank, Central Bank, Clean Science, Co-forge, Colgate, Dixon Tech, Granules India, Happiest Minds, ICICI Securities, ICRA, IEX, ITC, KEI Industries, Mastek, Mphasis, Nazara, Symphony, Tanla Platforms, Union Bank, UBL, UTI AMC, Zee Media, Zensar Tech are some of the companies which will post their results tomorrow.