DSIJ Mindshare

Indian indices ended the week on with volatile trading on Friday. The Indian benchmarks, Nifty and Sensex ended Friday’s trading session lower by 23 points and 117 points, respectively, after a strong opening session. 

The stock of V-Guard Industries Limited has given symmetrical triangle breakout on the weekly time frame along with robust volumes. Additionally, the stock formed a sizeable bullish candle on the breakout week, which adds strength to the breakout.

The stock of Syngene International has given ascending triangle breakout on a weekly scale. This breakout was confirmed by the above 50-week average volumes. The ascending triangle is a bullish formation that usually forms during an uptrend as a continuation pattern.

Leading steel manufacturer, Tata Steel, got approval from NCLT in relation to the acquisition of Bhushan Energy under the resolution plan and will offer Rs. 730 crore as an upfront payment.

The stock of NCC Limited has formed a bearish engulfing candle on the weekly time frame. Bearish engulfing candlestick pattern is considered to be a bearish reversal pattern and usually occurs at the top of an uptrend.