Tech Mahindra surges 8.6% after Q2 results beating street estimates. It reported PAT of Rs 1,064 crore, up 18.5% q/q. On sequential basis, its operating margin rose by 240bps to 15.3%. The stock retakes 50-DMA and 100-DMA on above-average volume.
A late-stage (third or fourth) base can work, but the odds are against it. The primary issue with late-stage bases is that they are much more obvious. And the obvious does not work in the stock market. Normally, a late-stage base is wider and looser than previous bases. The primary issue with a late stage base is that they are much more obvious. And the obvious does not work in the stock market. So, even if a late-stage base is perfect in its shape, it is still riskier than a first-or second-stage base.
Current Market Status
The earnings season has been muted so far and Indian markets continued to remain in a Downtrend. All sectoral indices ended in the red (as of friday), except NIFTY Realty (+0.53%), which registered nominal gains. NIFTY Pharma (-5.5%) was the worst performing sector heading into the earnings season. Continue reading “Market Condition and How to approach the markets this week?”