Stocks in Focus: These stocks gave a positive closing on Monday

The Large caps outperformed the broader markets on Monday as they did in the past week. Everal large caps were seen making fresh record highs on Monday with few managing to close at the day’s high. If we go by what the experts say – the closing price is the most important price action of the day.  

We find these Three stocks gave a positive closing indicating the interest of the bulls in the counter: 

1. Poonawalla Fincorp  : If we look at the daily chart of Poonawalla Fincorp a Maribozu candle was formed on Monday and the stock has bounced from its 9D EMA which means the stock is near term bullish. The share price of Poonawalla Fincorp managed to close at its day’s high with decent volumes. Maribozu candle is formed when there is no upper or lower body formed or a little upper body and lower body formed indicating that the share price after opening did not fall and close at the day’s high price. Maribozu indicates the interest of bulls in the counter.  

2. REC : The share price of REC gave positive closing as it managed to close near its day’s high. A huge green candle was formed on daily charts for REC and the stock price of REC managed to close above the crucial 30D EMA. The crossing of share price above the 30D EMA is considered positive in the near term and indicates positive trend.  

3. PFC : The share price of PFC was seen bouncing from its 30D EMA and managed to close above the 9D EMA on Monday after a long green candle was formed on Monday. A bullish engulfing pattern was formed on Monday which indicated that the bulls are in control.