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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.

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