Charts of the Day - 28th Sept 2021 | SwingTrader India
September 28 2021
Power Grid Corp. Of India
Divis Laboratories
PFC
GAIL
- The stock has been trading in a 16-week- long flat base and is on the verge of a breakout.
- It has also given a small trendline breakout connecting the August high to a recent high. Simultaneously, it has bounced from its 50- and 200- DMA today on above average volume.
- Energy stocks outperformed today as buying was seen in Oil & Gas and Power stocks.
- Being a leading stock in the energy space, it may outperform in the coming days if sustains above INR 187.
Divis Laboratories
- On September 24, this outperforming stock had formed a “Bearish engulfing” candlestick pattern on the daily chart.
- Yesterday, the stock breached its 50-DMA as well as upward sloping trendline along with negative crossover on RSI and MACD.
- Further, Nifty Pharma also breached its 50-DMA indicating sideways trend in the pharma space.
PFC
- The stock was facing strong resistance at INR 137–-140 levels and today it successfully crossed and held above this level.
- The stock is trending above all key moving averages and broke out on above average volume.
- Likewise, RS line also had a trendline breakout, connecting the March high to the August high.
- Similarly, momentum indicators MACD and ADX have also given positive cross over on the daily chart.
GAIL
- This stock is trending higher on a multiple - time frame chart and is trading above all key moving averages.
- The stock has been trading in a 16-week consolidation base. Today, it bounced from its 100-DMA on above average volume.
- Apart from bouncing from its 100-DMA, the stock broke out from a downward sloping trendline connecting the June highs to the September high on the daily chart.
- Follow us :
