Stock name: MTAR Tech

Pattern: Near a resistance

Time frame: Daily

Observation:

After a prolonged downtrend, the stock had started to consolidate and showed a quick up-move, thereby hitting a resistance level and is currently trading right at the resistance levels with good volumes coming in today. If the stock breaks out of the said level (1725) and sustains, we can see some good up-move in this counter.

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Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.

News for the day:

1) Zydus receives final approval from the US FDA for Estradiol Transdermal system which will be manufactured at the Moraiya plant.

2) The gross GST revenue collected in the month of November 2022 is Rs. 1,45,867 crores, which is 11% higher than the GST revenues in the same month last year.

3) India's manufacturing sector activity rose at the fastest pace in three months as output and new orders grew at sharper rates amid easing price pressures, survey data published by S&P Global showed on Thursday. The manufacturing PMI rose to 55.7 in November from 55.3 in September.