The descending triangle is a bearish continuation pattern. However, it could also be a reversal pattern depending on where it appears in relation to the trend.
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Stocks that were in focus on Tuesday include names like Ambuja, which rose 7%, Adani Enterprises, which jumped 17.3%, and Swan Energy, whose shares increased 7.6% on Tuesday.
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Equity benchmarks rebounded on Tuesday, with HDFC twins leading the rally. The BSE Sensex surged 446 points to close at 63,416, while the Nifty gained 126 points to reach 18,817. AB Capital, Sapphire Foods, and HDFC Bank were in focus, with recommendations from Viral Chheda of SSJ Finance & Securities. Chheda advises buying AB Capital, stating that the stock is moving above major averages and the Stochastics Oscillator is in an upward trend. He also suggests buying Sapphire Foods and HDFC Bank, citing positive price movements, increasing volumes, and upward trends in the Stochastics Oscillator.