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Charts of the Day - 10th Nov 2021 | TraderSmith

November 10 2021 | Reading Time: 5 Minutes

  • The stock corrected around 17% in the recent correction after hitting the high of INR 713, and today, it retook the confluence of 50- and 100-DMA on above average volume.
  • Today, it also gave a U-shaped trendline breakout and is now trending above all its key moving averages on all timeframe charts. 
  • The momentum indicator RSI has given a breakout and entered the bullish zone. It is currently placed at 71 on the daily chart with a positive MACD crossover. 
  • The stock has good EPS strength of 82, buyer demand B, and the number of funds increased 100%. Shares held by funds increased 60.5% in the last quarter.

  • The company reported strong Q2 results yesterday and the stock rallied around 9% intraday. 
  • It formed a base around the 200-DMA, and today, it formed a big bullish candle after Q2 numbers and reversed its trend to retest its 50-DMA on the daily chart.
  •  The momentum indicator RSI on daily and weekly charts indicates a bullish trend in the coming days.
  • It has a fair price strength of 63, good buyer demand of B. The fund holding has increased 12.03% and shares held by the funds have increased 16.18%.

  • The stock has retaken its 200-DMA with above average volume. It has formed a big bullish candle with a higher-high and higher-low price structure on the daily chart.
  • The stock has corrected around 38% after hitting its recent high on July 26. After hitting the low at 577 on August 23, the stock reversed its trend and started soaring higher from that level. 
  • The momentum indicator RSI is trending higher with a positive slope and momentum is improving further with a positive MACD crossover. 
Disclaimer: Today, we have already recommended this stock as part of the SWTI portfolio.

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