The stock of Sequent Scientific Limited has given a cup & handle pattern breakout on the daily timeframe. This breakout is supported by robust volumes. The length of the cup with handle pattern was 42 trading sessions while the depth of the pattern was nearly 19 per cent.

Considering the daily timeframe, the stock has given a pennant pattern breakout. This breakout was confirmed by the robust volumes. The height of the pennant’s pole is almost 125 points. A pennant is a short-term trend continuation pattern and the breakout above the downward sloping trendline signals that the previous uptrend has resumed.

This is an extremely rare pattern and usually occurs at the top of an uptrend. Generally, we rely on the typical momentum indicators or oscillators for recognising an overbought and oversold condition of the stock. However, this Japanese candlestick pattern gives us a unique way to recognise the time when the momentum is about to wane out.

The stock of KNR Constructions Limited has given a downward sloping trendline breakout on the weekly timeframe, formed by connecting swing highs from December 2017. Further, the breakout is supported by a robust volume of more than double of the 50-week average volume, indicating a strong buying interest by the market participants.

On Friday, the stock Indian Railway Catering & Tourism Corporation Limited has surged over 12 per cent and marked an intraday high of Rs 1,597. Technically, the stock has given a downward sloping trendline breakout on the daily timeframe formed by connecting swing highs since June 2020.

The stock of Poly Medicure Limited was picked by our Bollinger Band squeeze scanner, which suggests that the stock is near a consolidation breakout.

Considering the daily timeframe, the stock of Indiabulls Real Estate has given a pennant pattern breakout on the daily timeframe. The height of the pennant’s pole is almost 16 points. This breakout was confirmed by the robust volumes.

Interestingly, the RSI has also given a neckline breakout of inverted head & shoulders pattern, which is a very bullish sign. The stochastic is also suggesting a bullish momentum as the fast stochastic line is trading below its slow stochastic line.

The stock of Natco Pharma Limited was picked by our Bollinger Band squeeze scanner, which suggests that the stock is near a consolidation breakout.

On Tuesday, the stock has formed a bearish engulfing candlestick pattern on the daily timeframe, which suggests a possible trend reversal. The bearish engulfing candlestick pattern is considered to be a bearish reversal pattern that usually occurs at the top of an uptrend.