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Charts of the Day - 25th Oct 2021 | SwingTrader India

Author: Yathisha Naik

October 25 2021 | Reading Time: 5 Minutes
ICICI Bank
 

 
 
  • On October 23, 2021, the bank reported Q2 FY22 earnings results,  posting a strong set of numbers along with improved asset quality and a healthy rate of loan and deposit growth.
 
  • Today, the stock opened with a breakaway gap up, from an upward sloping parallel channel (marked in chart).  
 
  • 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 great buyer demand rating of B. The number of funds holding the stock has also increased substantially in the last quarter. 
 
City Union Bank 
 

 
  • After breaking out from the downward sloping trendline connecting the highs of November 2020  and June 2021, the stock has been trading sideways.
 
  • The stock took support at its breakout trendline along its 200-DMA and bounced from there. 
 
  • Likewise, its RS line also broke out above a trendline connecting its November high to the June high.
 
  • The stock has a fair  EPS Rank of 64, and a great buyer demand rating of A +.
 
Disclaimer: Today, we have already recommended this stock as part of the SWTI portfolio.
 
AXIS Bank
 

 
  • Today, the stock broke out from its the strong resistance zone of INR 800-–820 .
 
  • It has a fair EPS Rank of 68, and good buyer demand rating of B. The number of funds holding the stock has also increased substantially in the last quarter. 
 
  • Simultaneously, the slope of momentum indicators like RSI on multi- timeframe charts has now turned upward with a positive crossover, along with positive MACD.
 
  • Q2 FY22 earnings are due on October 26, 2021.

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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.

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