DSIJ Mindshare

A triangle forms when the price action narrows over several price swings. In SBIN, on the daily scale, the contracting triangle is in progress for the last four weeks. The price has reached near the apex point of the contracting triangle, next week it is likely to give a breakout.

The apex bank has allowed NBFCs to securitise loans of more than 5-year maturity if the loans were held for over six months on their books. This relaxation will provide extra liquidity to the NBFC sector.

PVR Cinemas which is the largest film exhibition company in India has announced the launch of its seventh multiplex in Hyderabad, at Next Galleria Mall in Irrum Manzil, Telangana. This multiplex consists of seven screens. With this launch, the total count of PVR stands at 41 screens at 7 properties in Hyderabad and 52 screens at 9 properties in Telangana.

The stock's pullback rally, which began from the lower levels, faced resistance near its downward sloping trendline resistance. The stock is consolidating near its trendline resistance zone for the last three weeks and it is likely to break in the coming days.

Stocks most likely to witness significant movement on the bourses on Monday, December 3 are TVS Motor Company, Lupin, Au Small Finance Bank, Reliance Communications and Monte Carlo Fashions.