Hot Intraday Stock Picks and Tips for 30th January, 2012: SELL DLF
Hot Intraday Stock Tips and Share Market Tips for 30th January, 2012: SELL DLF
On Daily Charts, DLF has made a Black Candlestick Pattern, with a considerable spurt in Volume. The Stock is closed below its 200-Days SMA (Simple Moving Average) of 216.04. It can be said that it reverted from that level.
However, it is trading above its 50-Days SMA of 355.24 and 20-Days EMA (Exponential Moving Average) of 199.43 and 202.61, respectively. It made a low of 210.80 for the day and closed at 211.60. The 14-Days RSI (Relative Strength Index) is quoting at 58.80 on the Charts (RSI above 50 indicates strength or confirms the Buying signal).
The Positive Directional Index (31.23) is still trading below the Negative Directional Index (17.63). ADX (Average Directional Index) is quoting at 26.32 on the Daily Charts. ADX’s value above 20 indicates that the trend of the stock is strengthening.
Hence, it is recommended to sell DLF only if it trades below 212 for the Targets of 208 & 206, with the strict Stop Loss of 214.60.
Contributed By: Sonal Natani MS(Finance), ICFAI, Hyderabad.
Equity Research Analyst, Indore