Free Share Tips for Intraday Trading on September 08, 2010 (08/09/2010): Buy Balrampur Chini
September 8, 2010 by admin
Filed under Analyst's Corner, General
Free Share Tips for Intraday Trading on September 08, 2010 (08/09/2010): Buy Balrampur Chini
On the Daily Charts, BALRAMCHIN made a Long White Candlestick, with a good spurt in volume. The prices moved and even opened above their 20-Days EMA (Exponential Moving Average) of 86.07 and are also trading above their 50-Days SMA (Simple Moving Average) of 84.31. For the day, the stock made a high of 91.35 after opening at 86.80.
The 14-Days RSI (Relative Strength Index) has gained strength and is quoting at 64.72 on the Daily Charts (RSI below 50 indicates weakness or confirms the Selling signal).
The Positive Directional Index (31.18) is above the Negative Directional Index (11.26), ADX (Average Directional Index) has gained strengthened and is quoting at 26.14 on the Daily Charts. ADX’s value above 20 and near 40 indicates that the underlying trend is strengthening.
Hence, it is recommended to buy BALRAMCHIN only if it trades above 91.50 for the Target of 94.20, with the strict Stop Loss of 89.90.
Contributed By: Sonal Natani MS(Finance), ICFAI, Hyderabad.
