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Charts of the Day - 21st Oct 2021 | SwingTrader India

Author: Rahi Masoom Raza

October 21 2021 | Reading Time: 5 Minutes
IRB
 

 
  • After six weeks of [consolidation], The stock has broken out from a cup- with- handle  and gained around 37% from its pivot level in just 24 trading sessions.
 
  • The stock is in a bullish trend and has not displayed any sign of weakness yet. It is trending above all its key moving averages on multi- time frame charts, and it has also closed on positive notes  for the past  six months. 
 
  • Today, it formed a big bullish candle with a higher- high and higher- low price structure on the daily chart and gained around 15% in intraday.
 
SHOPPERS STOP
 

 
  • After a small 11-day [consolidation] , the stock  broke out, and today, it formed a big bullish candle with a higher- high and higher- low price structure on the daily chart and gained 20% in intraday.
 
  •  On the higher time frame chart, it is still trading above its long- term key moving averages. However,  it is trending above all its key moving averages on the daily chart.
 
  • The momentum indicator RSI has entered bullish territory today, and another momentum indicator, MACD, is also trading with a positive cross over. 
 
 KOTAKBANK
 

 
  • The stock has broken out given a saucer pattern after 21 weeks of [consolidation]. Today,  it has formed a big bullish candle with a higher- high and higher- low price formation on the daily chart.
 
  • The stock is in a bullish trend on all multi- time frame charts and currently trending in uncharted territory with no sign of weakness. 
 
  • The momentum indicator RSI is trending in the bullish territory today, and another momentum indicator, MACD, is also trading with a positive cross over.
 
SRTRANSFIN
 

 
  • The stock is soaring higher and moving with strong momentum after reclaiming its 200 DMA on October 13, 2021.
 
  • The stock  has been closing on a positive note  for the past six days in a row, and today also, it has formed a big bullish candle with a higher- high and higher- low price structure on the daily chart.
 
  •  It is trending above all its key moving averages on multi- time frame charts.
 

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