Hot Stock Tip for June 25, 2010: Sell Bank of Baroda
June 24, 2010 by admin
Filed under Analyst's Corner, General
Hot Stock Tip for June 25, 2010: Sell Bank of Baroda
On the Daily Charts, BANKBARODA has breached its 50-Days SMA (Simple Moving Average) of 697.08 by making a low of 685.25 for the day. The 20-Days EMA (Exponential Moving Average) is quoting at 713.71.
A negative crossover can be observed between 20-Days EMA and 50-Days SMA. 14-Days RSI (Relative Strength Index), which is quoting at 41.21 on the charts (RSI below 50 indicates weakness or confirms the Selling signal).
The Negative Directional Index (23.33) has crossed the Positive Directional Index (17.22), which again gives a SELL Signal, ADX (Average Directional Index) has gained strength on the Intraday Charts and is quoting at 18.25 on the Daily Charts. ADX’s value above 20 and near 40 indicates that the underlying trend is strengthening.
Hence, it is recommended to sell BANKBARODA only if it trades below 685 for the Target of 670, with the Stop Loss of 695.
Contributed By: Sonal Natani MS(Finance), ICFAI, Hyderabad.
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