Charts of the Day - 8th Oct 2021 | SwingTrader India
October 08 2021 | Reading Time: 5 Minutes
Tatva Chintan Pharma Chem
● Today, the stock broke out from the IPO base pattern on closing, based on higher volume.
● Simultaneously, the slope of momentum indicators like RSI on multi- timeframe charts was trending upward, along with positive MACD.
● The stock has a strong Group Rank of 23 as it belongs to a strong industry group of Chemicals-Basic and has good buyer demand of B+.
Disclaimer: Today, we have already recommended this stock as part of the SWTI portfolio and booked partial profit.
MRF
● The stock has formed a double -bottom- like price structure. Today it has broken out above the eight- month -old downward sloping trendline connecting its February and September highs.
● Likewise, the RS line also broke out above a trendline connecting its February high to the September high.
● Further, the stock has been trading in a tight pattern for the last 4 four weeks.
● Today, the stock formed a large bullish candle and has retaken all its key moving averages.
Mtar Technologies
● Today, the stock broke out from a 12-week cup- with- a handle base on above average volume and closed at an all- time high.
● It was facing resistance at INR 1,470-–1,480 levels and has been trading in this zone for the last five days.
● Simultaneously, the slope of momentum indicators like RSI on multi- timeframe charts has now turned upward with a positive crossover, along with positive MACD.
Bank of Baroda
● Today, the stock broke out from a 10-week double-bottom price formation on above average volume.
● It also broke out above the eight- month -old trendline connecting its February and September highs (first breakout). Likewise, the RS line has had a breakout above a trendline connecting the February high to the September high.
● Simultaneously, the slope of momentum indicators like RSI on multi- timeframe charts has 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.
● Today, the stock broke out from the IPO base pattern on closing, based on higher volume.
● Simultaneously, the slope of momentum indicators like RSI on multi- timeframe charts was trending upward, along with positive MACD.
● The stock has a strong Group Rank of 23 as it belongs to a strong industry group of Chemicals-Basic and has good buyer demand of B+.
Disclaimer: Today, we have already recommended this stock as part of the SWTI portfolio and booked partial profit.
MRF
● The stock has formed a double -bottom- like price structure. Today it has broken out above the eight- month -old downward sloping trendline connecting its February and September highs.
● Likewise, the RS line also broke out above a trendline connecting its February high to the September high.
● Further, the stock has been trading in a tight pattern for the last 4 four weeks.
● Today, the stock formed a large bullish candle and has retaken all its key moving averages.
Mtar Technologies
● Today, the stock broke out from a 12-week cup- with- a handle base on above average volume and closed at an all- time high.
● It was facing resistance at INR 1,470-–1,480 levels and has been trading in this zone for the last five days.
● Simultaneously, the slope of momentum indicators like RSI on multi- timeframe charts has now turned upward with a positive crossover, along with positive MACD.
Bank of Baroda
● Today, the stock broke out from a 10-week double-bottom price formation on above average volume.
● It also broke out above the eight- month -old trendline connecting its February and September highs (first breakout). Likewise, the RS line has had a breakout above a trendline connecting the February high to the September high.
● Simultaneously, the slope of momentum indicators like RSI on multi- timeframe charts has 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.
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