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Charts of the Day - 12th Nov 2021 | TraderSmith

Author: Rahi Masoom Raza

November 12 2021 | Reading Time: 5 Minutes
ICICIPRULI
 

 
 
  • The stock has corrected 15% recently after hitting the high of INR 724 and formed a base at INR 600–610.
 
  • It has reversed its trend from the first week of November and is moving higher gradually every day. 
 
  • The momentum indicator RSI also hit the low of 32 recently and then had a trendline breakout. It is moving upward to enter the bullish zone on the daily chart.
 
  • The stock retook its 50-DMA and has formed a big bullish candle with a higher-high, higher-low price formation on the daily chart today.
 
 
INDIGO
 

 
 
  • The stock broke out from consolidation today by forming a big bullish candle with a higher–high, higher-low price formation on the daily chart. 
 
  • It is trending above all key moving averages on all time-frame charts and closing on a positive note since the past four months.
 
  • The momentum indicator RSI has risen while another momentum indicator MACD is trending upward with a positive crossover on the daily chart.
 
  • The stock is already trending in uncharted territory. The study of multi-time-frame charts suggests the stock might advance further in the next few days and weeks.
 
 
MINDAIND
 

 
 
  • The company posted strong Q2 numbers yesterday, triggering buying interest today. It has broken out from a cup-with-handle base and advanced further north.
 
  • The stock is in a bullish trend and trending in uncharted territory. It formed a new all-time high today.
 
  • The momentum indicator RSI is moving upward along a positive slope and has already entered bullish territory. Another momentum indicator MACD is trading with a positive crossover.
 
  • The stock has a fair EPS Rank of 68 and Buyer Demand Rating of A. The number of funds holding the stock increased 14.04% and shares held by funds increased 19.38% in the last quarter.
 
 
IDFC
 

 
 
  • The stock has broken out from a cup-with-handle base on above average volume today. 
 
  • The momentum indicator RSI has risen steeply today and is currently placed at 66 on the daily chart. The other momentum indicator MACD is trending with a positive crossover. 
 
  • The stock is trending above all its key moving averages on all time-frame charts with positive bias and closing on a positive note since the past five weeks
 

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