Charts of the Day - 11th Nov 2021 | TraderSmith
November 11 2021 | Reading Time: 5 Minutes
THERMAX
CRISIL
TIMKEN
- After hitting the recent high of INR 1,577 on May 7, 2021, the stock has corrected around 17% and formed a base around the upward sloping 200-DMA. Since then, it has reversed its trend toward the upside.
- During the correction, the momentum indicator RSI had also gone in the oversold zone and hit the low at 32 on October 4, 2021. Subsequently, it started showing strength and moved upward and is currently at 67 on the daily chart.
- The company posted strong Q2 numbers yesterday. Today, the stock gave a trendline breakout with a gap up opening and formed a big bullish candle with a higher-high and higher-low price structure on the daily chart on above average volume.
- It is also closing on a positive note for the past three weeks and is about to give pivot a breakout, which is just 6% away from the current level.
CRISIL
- The stock corrected around 27% in its recent correction, and today, it gave a breakout from a cup-with-handle breakout on above average volume after 11 weeks of consolidation.
- The company posted strong earnings Q2 numbers yesterday. Today, the stock has also given a trendline breakout with a gap up opening and formed a big bullish candle with a higher-high and higher-low price structure on the daily chart with above average volume.
- It is trending above all its key moving averages on multi-timeframe charts, and it has a fair EPS strength of 68, good buyer demand of B, and the number of funds holding the stock increased 4.41% in the last quarter.
TIMKEN
- The stock hit the low at INR 639 in March, and since then, it has gained around 209% and is currently trading at INR 1,960.
- The company has posted strong earnings Q2 numbers the day before yesterday. Today, the stock has also given a trendline breakout with a gap up opening and formed a big bullish candle with a higher-high and higher-low price structure on the daily chart with above average volume.
- The stock is in a bullish trend, and momentum indicator RSI is also trending higher with a positive slope and a positive MACD crossover.
- It has a good EPS strength of 89, with buyer demand of A. Also, shares held by funds increased 5.47% in the last quarter.
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