Hot Intraday Share Picks and Tips for 12th January, 2012: BUY JETAIRWAYS
Hot Intraday Share Market Tips for 12th January, 2012: BUY JETAIRWAYS
On Daily Charts, JETAIRWAYS has made a White Opening Marubozu Candlestick Pattern, showing that it was a typical bull day and strength of the bulls was enough to cause some concern among the bears. The stock rose with an excellent spurt in Volume, backed by the news that the aviation sector may see foreign direct investment (FDI) being allowed.
Stock is trading much below its 200-Days SMA (Simple Moving Average) and 50-Days SMA of 352.03 and 223.72 respectively. It moved above its 20-Days EMA (Exponential Moving Average) of 190.94 on the closing basis yesterday only. It made a high of 209.50 for the day and closed at 203.75.
The 14-Days RSI (Relative Strength Index) is quoting at 54.92 on the Charts (RSI above 50 indicates strength or confirms the Buying signal). The Positive Directional Index (28.10) is trading above the Negative Directional Index (22.63). ADX (Average Directional Index) is quoting at 34.09 on the Daily Charts. ADX’s value above 20 indicates that the trend of the stock is strengthening.
Hence, it is recommended to buy JETAIRWAYS only if it trades above 204 for the Targets of 210 & 215, with the strict Stop Loss of 201.
Contributed By: Sonal Natani MS(Finance), ICFAI, Hyderabad.
Equity Research Analyst, Indore