Technical Analysis of MOTILALOFS & LUPIN

Stock name: Motilal Oswal Financial Services Ltd.

Pattern: Double top pattern

Time frame: Daily

Observation:

The stock has experienced significant upward movement since March 2023. Recently, it formed a double top pattern on its daily chart. Currently the stock is yet to breakout from this pattern therefore this line is acting as a support line. Presently, the stock's RSI level is very low. According to technical analysis, if the stock moves downward past the breakout line, it may continue to decline further.

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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: Lupin Ltd.

Pattern: Flag and pole pattern

Time frame: Weekly

Observation:

The stock has been on an upward trend since April 2023 and consolidated from March to July 2024, forming a flag and pole pattern on its weekly chart. It broke out of this pattern in early July 2024, supported by high trading volume and a bullish MACD indicator. Technical analysis suggests that if the breakout momentum continues, the stock 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.

 

News for the day:

  • Mazagon Dock Shipbuilders (MDL) and Garden Reach Shipbuilders (GRSE) are frontrunners for the Defence Ministry's ₹70,000 crore warship order under Project 17B. This order will enhance MDL's Kalvari class submarines and Project 15B destroyers, and GRSE's patrol vessels and exports. The two yards, already working on Nilgiri class frigates under Project 17A, are expected to split the order for faster delivery. The advanced stealth frigates will include Brahmos missiles, anti-submarine weapons, and indigenous electronic warfare systems.
  • The Asian Development Bank (ADB) has approved a $240.5 million loan to support rooftop solar systems in India, focusing on residential installations. The loan will be distributed through the State Bank of India (SBI) and the National Bank for Agriculture and Rural Development (NABARD). This initiative aligns with India's goal to achieve 50% of its power from non-fossil fuel sources by 2030 and supports the Prime Minister's Surya Ghar program for rooftop solar adoption.

  • DLF is expanding its housing and commercial property business into Mumbai and Goa while continuing projects in Delhi-NCR, according to Chairman Rajiv Singh. The company saw record sales of ₹15,058 crore in FY 2022-23 and ₹14,778 crore in FY 2023-24, targeting ₹17,000 crore for FY 2024-25. The commercial segment is performing well with high occupancy rates.
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