1. Stock name: Amber Enterprises India Ltd.

Pattern: Flag and pole pattern

Time frame: Daily

Observation:

Since May 2023, the stock has consistently moved upward, with a notable surge between July and September 2023. Following this, the stock underwent a consolidation phase until November 2023, forming a flag and pole pattern on its daily chart. On November 3, 2023, a breakout candle emerged from this pattern, accompanied by above-average trading volume. The stock successfully retested post-breakout and is presently on an upward trajectory. Additionally, the stock's RSI is currently at a favorable level. According to technical analysis, if the current momentum is sustained, the stock may continue its upward trend.

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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.

2. Stock name: Graphite India Ltd.

Pattern: Cup and handle pattern and retest

Time frame: Daily

Observation:

The stock has displayed an overall upward trend, notably forming a cup and handle pattern on its daily chart from January to August 2023. After a successful breakout, it has continued its upward movement but is currently undergoing a retest phase. Positive signals from both MACD and RSI indicators have been observed recently. According to technical analysis, a rebound from this phase could potentially propel the stock in an upward direction.

You may add this to your watch list to understand further price action.

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

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News for the day:

1) Titan Company plans to hire more than 3,000 employees over the next 5 years, aiming for a Rs 1,00,000 crore business. The hiring strategy spans various domains, including engineering, design, luxury, digital, data analytics, marketing, and sales, with a focus on specialized skills like data analytics, cyber security, and digital marketing. Titan also aims to increase its international workforce, expand in North America and the Middle East, and enhance its luxury segment, while continuing efforts to upskill and facilitate the re-entry of women into the workforce.

2) JP Morgan, Tata Cleantech Capital, Aditya Birla Finance, ICICI Bank, and India Infrastructure Finance Company Ltd (IIFCL) have collectively infused Rs 2,475 crore in debt funding for GMR Goa International Airport Ltd. GMR is concurrently advancing its Bhogapuram airport project in Andhra Pradesh, targeting a cost of Rs 4,700–4,800 crore, and has secured financial closure for the venture, as well as winning bids for civilian airports in Bidar, Karnataka and Nagpur, Maharashtra.

3) The potential IPO of Bharti Hexacom is anticipated to generate around ₹10,000 crore for the government through its sale of 30% stake in the company. Although the government's expected valuation is more than three times higher than a previous estimate from J M Financial two years ago. Bharti Airtel has initiated the listing process through investment banks such as Axis Capital, SBI Caps, IIFL, and ICICI Securities., with the IPO likely to conclude by early 2024.