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Charts of the Day - 11th Oct 2021 | SwingTrader India

Author: Rahi Masoom Raza

October 11 2021 | Reading Time: 5 minutes
EQUITAS

 
 
  •  After hitting a high on July 12, 2021, the stock has been in [consolidation] for around three months.
 
  • Today, it gapped up on opening, breaking out of a 12-week consolidation and forming a big bullish candle with a higher-high, higher-low price structure on the daily chart.
 
  • It is trending above all its key moving averages on a multi-timeframe chart with improved momentum in RSI.
 
UNIONBANK
 

 
  • The stock has been gradually trending higher since it retook its 50-DMA on September 29, 2021.
 
  • Momentum indicator RSI has risen upward in the past three days, which shows bullish momentum in this counter.
 
  • Another momentum indicator, MACD, has given a positive crossover on September 28, 2021 and is also trending above all its key moving averages, only on the daily chart. On a higher timeframe chart, it still shows some weakness.
 
Disclaimer: Today, we have already recommended this stock as part of the SWTI portfolio.
 
 
TORNTPOWER
 

 
 
  • The stock is in bullish territory on multiple timeframe charts and shows no sign of weakness.
 
  • The stock has closed on a positive note steadily for the past three months. Today, it has formed a big bullish candle with a higher-high, higher-low price structure on the daily chart.
 
  • Momentum indicator RSI and MACD are showing positive strength in this counter and the stock is currently in uncharted territory.
 
Disclaimer: Today, we have already recommended this stock as part of the SWTI portfolio and booked partial profit.
 
ISEC
 

 
  • After hitting the recent high of 802.7 on July 16, 2021, it started displaying volatility and consolidated at around 20%. Today, it has broken out of a flat base pattern, forming a big bullish candle on the daily chart.
 
  • It has a great EPS Rank of 94. Buyer demand is good with a B+ rating and represents fair price strength of 61. It has had 15.6% fund increment in the previous quarter.
 
  • The momentum indicator RSI is positive and MACD has also had a positive crossover. The stock is trending above all its key moving averages.
 

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Disclaimer: Information contained herein is not and should not be construed as an offer, solicitation, or recommendation to buy or sell securities. It is for educational purposes only.For more information, see our Legal disclosures here.

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