The stock of IDBI Bank on Friday jumped more than 18 per cent and made an intraday high of Rs 2,300.

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

The bulls are likely to begin the fresh week on a jubilant note as well as continue to extend its Friday’s rally as cues from the Asian peers are supporting the bullish chorus. Further, a daily tabloid reported that the Coronavirus epidemic in India may have already peaked.

As kids, we have all heard this quote, ‘one bad fish can spoil the whole pond’. Similarly, on the D-Street, one big fall on Thursday led to a negative close for Nifty on a weekly basis. For the week gone by, Nifty lost 1.27 per cent, while Nifty Mid-cap and Small-cap lost 1.79 per cent and 0.63 per cent, respectively.

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The stock has underperformed the frontline indices in the current leg of the upward rally. Also, the stock has relatively underperformed Nifty 500 with a decent margin. The relative strength comparison with Nifty 500 and Nifty 50 has slipped below the low of November 2019.

The multiplex operator, Inox Leisure on Friday informed that the company has begun the process of reopening its facilities in ten states of India. The list includes West Bengal, Gujarat, Karnataka, Uttar Pradesh, Assam, Andhra Pradesh, Haryana, Madhya Pradesh, Delhi, and Goa.

On a weekly scale, the stock has formed a shooting star candlestick pattern, which suggests a possible trend reversal. The upper shadow of the pattern is nearly 438 points, which is more than three times the body of the candle.

Including this approval, the final count of approvals of the company stands at 305 while so far, it has filed over 390 ANDAs.

Philips Carbon Black Limited (PCBL) reported its September quarter results today.Profit before tax for the company stood at Rs 72.47 crore in Q2FY21, which is 28.9 per cent lesser than the corresponding quarter last year. Profit after tax for Q2FY21 stood at Rs 57.55 crore, showing a YoY decrease of 25 per cent