MarketsmithIndia Articles

Charts of the Day - 14th Oct 2021 | SwingTrader India

October 14 2021 | Reading Time: 4 Minutes
WIPRO

● The stock was in a sideways trend for the past three weeks, hovering near its 50- DMA and bouncing back from that level.
 
● However, the stock drew bullish sentiment and witnessed buying interest after reporting Q2 FY22 earnings on October 13, 2021.
 
● The stock gapped up and trended higher today on all time frame charts with improved momentum in RSI and MACD.
 
● The company has posted strong revenue growth for the September quarter at 8.1% q/q and 28.8%  y/y, which has boosted investor sentiment.
 
MINDTREE

● The stock was in a sideways trend for the past three weeks after hitting its recent high on September 24 and was hovering near its 21- DMA.  It bounced back from that level today.
 
● The stock saw a turn in sentiment and witnessed buying interest after reporting Q2 FY22 earnings on October 13, 2021.
 
● The company has posted a robust earnings as its net profit rose to Rs 398.9 crore (+57.3%) and revenue was up 34.3% to Rs 2,586.2 crore for the quarter ended September 30, 2021.
 
● Following the company’s earnings release yesterday, the stock gapped up and trended higher today on all time frame charts with improved momentum in RSI and MACD.
 
ADANIPORTS

● The stock has been consolidating for the past four weeks, but its price action turned the sentiment bullish in the last two days.
 
● The stock has formed two bullish candles on the daily chart with a higher- high and higher- low price structure with positive sentiment.
 
● The momentum indicator RSI has given a steep rise and formed an upward slope toward the upside with bullish momentum.
 
GRASIM

● The stock broke out from a six-week flat base pattern in the last week of September. However, the stock reversed its trend and made a small correction.
 
● On October 11, the stock bounced from its 21-DMA with above average volume and turned actionable.
 
● Simultaneously, the slope of momentum indicators like RSI on multi- timeframe charts has now turned upward with a positive crossover, along with positive MACD.
 
● The stock has a good EPS Rank of 85, and a great buyer demand rating of A. The number of funds holding the stock also increased substantially in the last quarter.

What do you think? Please email us any questions or comments.

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.

Related Article

Loading...