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Hot Stocks | Double-digit returns possible from Federal Bank, JK Paper, Borosil in short term, here's why

Borosil has started to get into Higher High, Higher Low formation which tells that the stock has shown a bounce on the upside after retesting the neckline of inverse head and shoulders pattern in October 2022 that indicates a continuation in the prior uptrend.

October 14, 2022 / 07:22 AM IST
 
 
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Vidnyan Sawant, AVP - Technical Research at GEPL Capital

On the weekly chart, prices have formed Inside Bar candlestick pattern, which indicates decrease in volatility of the prices while taking support from the 20-week SMA (simple moving average).

Prices on the daily time frame are roaming within three-day range, which again confirms the decrease in volatility.

RSI (relative strength index) on the daily timeframe is trending lower which reflects losing momentum of the index.