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Charts of the Day - 5th Oct 2021 | SwingTrader India

October 05 2021 | Reading Time: 5 minutes

  • The stock has given a breakout  from a cup base after 10 weeks of consolidation. It looks bullish on multi- time frame charts, and it has also formed three consecutive bullish high and higher low price structures on the monthly chart. 
  • It is trending above all its key moving averages and is currently 17% and 26% above its 50 and 200- DMA, respectively. 
  • It has fair EPS strength (66) with buyer demand is of (A+). However, it has poor price strength (53) and poor Group Rank (74). Fund holdings  increased 6.83% in the previous quarter.
  • The momentum indicator RSI is trending in the bullish zone and currently placed at 74, and MACD is also trending higher with positive bias with no sign of weakness .

  • The stock has given a trendline breakout today with the formation of big bullish candles on the daily chart. However, it  needs to gain 3% to give a breakout above the pivot point.
  • The stock has corrected around 15% after hitting the high of INR 631.85, but today’s move has changed the negative sentiment to positive.
  • It is trending above all its key moving averages with an improvement in RS Rating. 

  • The stock broke out on  September 15 on above average volume, and from then, it has not given any negative or alarming signal. It is soaring higher day by day, and it has gained around 31% from its pivot level in just two weeks. 
  • On the weekly chart, Iit has formed four consecutive candles with  of a higher- high and higher- low price structure , which is a bullish signal.
  • It is trending above all its key moving averages. Even momentum indicators RSI and MACD are trending with positive bias in this counter. 

  • The stock broke out above the pivot of its flat base on 27th September 27 on above average volume and gained up to 18% in six days. However, its trendline breakout came a little earlier, on September 27
  • It is observed that volumes are above average  on high days, showing strong momentum in this counter.
  • The momentum indicators RSI and MACD are soaring higher with bullish momentum with no weakness as of now. 

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