KK's Corner - RS at 52-week High - Torrent Power & Jyothy Labs
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I ran the scanner in RZone Web to identify stocks that are at 52-week high in the Relative Strength (RS) chart versus Nifty. Out of the list of stocks, I liked the chart pattern in Torrent Power & Jyothy Labs.
Here is the daily chart of Jyothy Labs.
After a sharp rally, the price has consolidated in a tight range and the price n volume action is very interesting today. There is a similar pattern in Torrent Power too. I am long in both these stocks.
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sir what do you think about NH ?
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NH also has a similar set-up. Check Market-Kya-lagta Hai video update by Raju Ranjan that was uploaded yesterday in YouTube. He talks about this sector
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Sir, excuse my very basic question, How to run that scanner in RZone?
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Go to High-Low Retracement Scanner in the Smart Scanners menu in RZone.
In that menu, check the Denominator box to ensure that the scanner tracks Ratio chart details as well. In the no. of bars, use 252. You should get the desired result.
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Thank you so much Sir !!
