Free NSE Share Tips for June 4th, 2010: Buy Crompton Greaves
June 4, 2010 by admin
Filed under Analyst's Corner, General
FREE STOCK TIPS FOR 4TH JUNE, 2010
On the Daily Charts, CROMPGREAV is formed a White Candlestick. The prices have successfully crossed their 20-Days EMA (Exponential Moving Average) of 242.07 and also opened above it at 244.45 on Thursday.
CROMPGREAV also made a high of 251.75, proving the strength in the stock, which it gained in the last half an hour of trade. Stock’s 50-Days SMA (Simple Moving Average) is quoting at 253.47, which may act as a good resistance level for the stock.
In the coming days, if stock crosses this level, it will be very strong and will touch new highs. 14-Days RSI (Relative Strength Index) has given a BUY Signal on the charts and is quoting at 54.74 (RSI below 50 indicates weakness or confirms the Selling signal).
The Negative Directional Index (26.86) is still above the Positive Directional Index (20.76), ADX (Average Directional Index) has gained strength on intraday charts and is quoting at 26.86. ADX’s value above 20 and near 40 indicates that the underlying trend is strengthening.
Hence, it is recommended to buy CROMPGREAV above 252 for the Target of 256, with the Stop Loss of 249.
Contributed by Sonal Natani MS(Finance), ICFAI, Hyderabad.
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