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Hot Stocks | RHI Magnesita, D-Link India, Indian Bank can give up to 22% return in short term, here's why

Looking at the broader picture of RHI Magnesita India, we can spot that the overall trend is on the upside. While the steepness of the trend line is rising, this tells that the underlying trend is accelerating for an upside move.

October 21, 2022 / 07:32 AM IST
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Vidnyan Sawant, AVP - Technical Research at GEPL Capital

On the weekly chart, prices have given a breakout of Inside Bar Candlestick pattern while maintaining Higher High, Higher Low formation.

Prices on daily timeframe are protecting the Gap prudently which was created on October 18, and have sustained above prior week high.

RSI (relative strength index) on the daily timeframe is rising while forming Higher High, Higher Low with the price trend. This reflects the rising momentum with the price.