Charts of the Day - 17th Sept 2021 | SwingTrader India
September 17 2021 | Reading Time: 5 Minutes
Power Finance
MSTCLTD
Tata Steel
Cholamandalam Inv.& Fin
- After breaking out of a 20-week cup-with-handle pattern on August 2, the stock consolidated for a month.
- Even though it crossed its pivot level again on September 13, it is currently facing resistance at 140–141.
MSTCLTD
- The stock has had a breakout on the daily chart above the downward sloping trendline connecting the high of February 2021 to the high of July 2021.
Tata Steel
- The stock is trading near support at its 50-EMA with a negative bias as it has fallen around 4% with above average volume on the daily chart.
- It has already touched the 261.8% Fibonacci level with the fall that occurred from January 2018 to March 2020.
Cholamandalam Inv.& Fin
- The stock broke out from a 19-week consolidation on the weekly chart.
- The number of funds holding this stock has increased sharply in recent quarters.
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