MarketsmithIndia Articles

Charts of the Day - 29th Sept 2021 | SwingTrader India

September 29 2021 | Reading Time: 5 Minutes
IEX
  • The stock has been trading sideways and made a tight pattern.
  • It has also broken out from a “bullish flag” pattern and bounced off its 21-DMA on above average volume today. 
  • The stock is trading well above all its key moving averages and has formed a large bullish candle today.
 
Disclaimer: We have recommended this stock as part of the SWTI portfolio.
 
Sunpharma
 
  • Today, the stock broke out from an eight-week flat base pattern and has simultaneously bounced off its 50-DMA on above average volume.
  • The 50-DMA has been crucial support for this stock, which has traded in a tight pattern for almost eight weeks.
  • This stock is trending in a bullish trend on multi-timeframe charts as its price has been trading above all key moving averages. 
 
Ajanta Pharma
 
  • The stock has been trading in a nine-week flat base pattern. Today, the stock reclaimed its 50-DMA on above average volume.
  • It also broke out above the downward sloping trendline connecting the highs of July and September on the daily chart.
  • It has been under minor consolidation of around 9%, and it bounced strongly today.
 
Irb Infr.Developers
 
  • The stock broke out from a ten-week cup-with-handle pattern on above average volume.
  • Today, the stock broke out above the downward sloping trendline connecting the high of July and September on the daily chart.
  • Likewise, its RS line also had a breakout above the trendline connecting the highs of March and August.  
 

What do you think? Please email us any questions or comments.

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.

Related Article

Loading...