1. Stock name: United Breweries Ltd.

Pattern: Cup and handle pattern

Time frame: Daily

Observation:

Since November 2021, the stock has been trading within a sideways pattern. Between January 2023 and December 2023, a cup and handle pattern emerged on the stock's daily chart. A breakout from this pattern occurred on December 4, 2023, with support from average trading volume. Following the breakout, the stock has been observed moving in an upward direction. According to technical analysis, the stock may see further upward movement if it can sustain its current momentum.

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.

2. Stock name: HDFC Life Insurance Company Ltd.

Pattern: Flag and pole pattern

Time frame: Weekly

Observation:

Between March and July 2023, the stock experienced a rapid upward movement, followed by a slight correction until November 2023. During this timeframe, the stock chart revealed the formation of a flag and pole pattern on its weekly chart. November 2023 witnessed a breakout from this pattern, and subsequently, the stock resumed its upward trajectory. The Relative Strength Index (RSI) is currently at a favorable level, and the Moving Average Convergence Divergence (MACD) indicator recently provided a positive signal. According to technical analysis, if the stock can sustain its current momentum, then it may move further 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.

-------------------------------------------------------

News for the day:

1) Hindalco Industries will invest Rs 800 crore to build a battery foil manufacturing unit in Odisha, operational by July 2025. The facility aims to produce 25,000 tonnes of aluminium foils, essential for Lithium-ion cells used in electric vehicles, aligning with the growing demand for sustainable energy solutions and supporting the government's green initiative.

2) Yes Bank is seeking buyers for its Rs 4,233 crore distressed corporate and retail loan portfolio, including debts from UK-based companies affiliated with Cox and Kings. The bank, which last year sold a Rs 48,000 crore non-performing loan portfolio, has invited expressions of interest for the sale, focusing on cash offers this time and setting a December 18 deadline for the retail portfolio.

3) The Reserve Bank of India (RBI) has approved HDFC Bank's 'Offline Retail Payments' product, developed in partnership with Crunchfish AB, to be adopted by banks and financial institutions. The solution, designed to facilitate digital payments in areas with limited or no network connectivity, allows offline transactions for both customers and merchants without requiring a network connection, aiming to enhance the adoption of digital payments in such regions.