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Charts of the Day - 4th Oct 2021 | SwingTrader India

Author: Yathisha Naik

October 04 2021 | Reading Time: 5 Minutes
  • The stock broke out from a 25-week consolidation pattern on a closing basis on above average volume. Further, it has formed a tight pattern on the weekly chart.
  • The stock is currently trading above its key moving averages, i.e., 21-, 50-, and 200-DMA, and today, it has formed a large bullish candle on the daily chart.
  • Simultaneously, the slope of momentum indicators like RSI on multi-timeframe charts is now turned upward with a positive crossover, along with positive MACD.
Disclaimer: Today, We have already recommended this stock as part of the  SWTI portfolio and booked partial profit.
Aarti Industries
  • 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 stock has also given a breakout above a small trendline connecting the August high to a recent high. Likewise, RS line also had a breakout above a trendline connecting the August high to the September high.
  • Further, the momentum indicators MACD and ADX have also given positive crossover on the daily chart.
Dcm Shriram
  • The stock has been trading in an 11-week consolidation pattern and broke out on a closing basis.
  • Simultaneously, the stock broke out from an inverted head and shoulder pattern, along with positive RSI and MACD crossover.
  • Good EPS Rank of 82 and an RS Rating of 82 indicate the stock’s outperformance compared to other stocks.
Bhansali Engr (BEPL)
  • The stock has been trading sideways for almost nine months in the range of INR 125–210 in a base-on-base pattern.
  • Today, the stock gave a breakout above the trendline connecting the high of August 2021 to September 2021 with above average volume. Simultaneously, momentum indicators MACD and ADX have also given positive crossover on the daily chart.
  • The stock has a strong fundamental, great buyer demand, and Group Rank placed below 40, which is considered good. Further, the number of funds participation has also increased substantially in the last quarter.

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