Hot Stock Pick for Intraday trading for September 7th, 2010 (07/09/2010): Buy Raymonds
September 7, 2010 by admin
Filed under Analyst's Corner, General
Hot Share Market Pick for Intraday trading for September 7th, 2010 (07/09/2010): Buy Raymonds
On the Daily Charts RAYMOND has made a Long White Candlestick, with an excellent spurt in the volume. The prices showed good upside at the last hour of the trading session, which gives a hint that the stock will move up again in the other trading session.
The stock moved above its 20-Days EMA (Exponential Moving Average) of 350.88, and made a high of 392.80 for the day. Stock’s 50-Days SMA (Simple Moving Average) is quoting at 285.93, hence giving a positive crossover. 14-Days RSI (Relative Strength Index) is quoting at 68.51 on the Charts (RSI below 50 indicates weakness or confirms the Selling signal).
The Positive Directional Index (28.40) is above the Negative Directional Index (12.69), ADX (Average Directional Index) is quoting at 41.14 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 RAYMOND only if it trades above 393 for the Targets of 405 & 410, with the strict Stop Loss of 386.
Contributed By: Sonal Natani MS(Finance), ICFAI, Hyderabad.
