In todayβs stock insight thread, we will be talking about Jindal Saw, which is a part of the OP Jindal Group, and one of the largest pipe producers in India.𧡠ππ»
The Story
Established in 1984, they are the only company with a water-centric product profile that is present in all major pipe segments β SAW, seamless, and DI.ππ»
Jindal Saw has plants in Kosi Kalan and Mathura (Uttar Pradesh), Mundra (Gujarat), Bellary (Karnataka), Bhilwara (Rajasthan), and Nasik (Maharashtra) and supplies to major domestic and international entities.ππ»
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The Indian stock market saw a volatile week, with the benchmark indices experiencing both gains and losses forming a Doji pattern on the weekly charts... (π§΅)ππ»
On Monday, the BSE Sensex and NSE Nifty50 gained due to a strong rally in IT stocks. The markets oscillated between the 17800 levels and 18100 where bulls would step in every time protecting the support zones where as bears had a clear advantage at higher levels.ππ»
The market breadth has improved during this week. There were earnings announcements by the tech biggies, where both Infosys & TCS reported earnings better than the street expectations. US indices rallied over the week inspite of hawkish comments by the Federal Reserve Officialsππ»
-A bullish reversal pattern
-Volume is highest at the breakout of the neckline.
-Minimum target is vertical distance from the head to the neckline post breakout ππ»
Double Bottom
-A Bullish reversal pattern
-Looks like a W
-Volume is High at the Breakout ππ»
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