MarketsmithIndia Articles

Charts of the Day - 16th Nov 2021 | TraderSmith

Author: Yathisha Naik

November 16 2021 | Reading Time: 5 Minutes
Maruti Suzuki India
 

 
 
  • The stock has been trading in a 44-week-long consolidation pattern.
 
  • Today, it broke out from a small trendline connecting the high of June 2021 to the high of October and simultaneously bounced off its 21-DMA on above average volume.
 
  • The slope of the momentum indicator RSI on multi-timeframe charts has turned upward with a positive crossover.
 
  • The stock has a great Buyer Demand Rating of A with RS line trending upward.
 
Disclaimer: Today, we have already recommended this stock as part of the SWTI portfolio.
 
 
Newgen Software Techs
 

 
 
  • After almost 2X run in the last year, the stock has been consolidating for almost four months.
 
  • Today, it broke out of a consolidation pattern on above average volume.
 
  • The slope of the momentum indicator RSI on multi-timeframe charts has turned upward with a positive crossover.
 
  • The stock has a good EPS Rank 92, an RS Rating of 69, and a Buyer Demand Rating of A. The number of funds holding the stock has also increased substantially in the last quarter.
 
 
Birlasoft 
 

 
 
  • The stock has been trading in an upward-sloping broadening channel with bullish momentum.
 
  • Simultaneously, it has good support at its 100-DMA.
 
  • The slope of the momentum indicator RSI on multi-timeframe charts has turned upward with a positive crossover.
 
  • The stock has a good RS Rating of 66 and a Buyer Demand Rating of B+. The number of funds holding the stock has also increased substantially in the last quarter.
 
 
MAHINDCIE
 
 

 
  • The stock broke out from an 11-week-long cup pattern on above average volume.
 
  • The slope of the momentum indicator RSI on multi-timeframe charts has turned upward with a positive crossover.
 
  • The stock has a good RS Rating of 62 and a Buyer Demand Rating of A. The number of funds holding the stock has 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...