Hot Stock Tips and Pick for July 30th, 2010 (30/07/2010): Buy Bata
July 30, 2010 by admin
Filed under Analyst's Corner, General
Hot Share Tips and Pick for July 30th, 2010 (30/07/2010): Buy Bata
On the Daily Charts, BATAINDIA had made an Ascending Triangle Formation, which is a Bullish Reversal Pattern. The stock gave a good breakout yesterday by making a high of 293.70 with a good spurt in volume. Both the moving averages, 50-Days SMA (Simple Moving Average) and 20-Days EMA (Exponential Moving Average) of 269.46 and 275.55, respectively are indicating the positive crossover.
Yesterday also the prices made a Long White Candlestick. 14-Days RSI (Relative Strength Index) is quoting at 68.43 on the Daily Charts (RSI below 50 indicates weakness or confirms the Selling signal).
The Positive Directional Index (26.29) is above the Negative Directional Index (9.54), ADX (Average Directional Index) has strengthened on the Intraday Charts and is quoting at 16.07 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 BATAINDIA at the levels of 291-292 for the Targets of 325 & 330 in next 10-12 Days, with the Strict Stop Loss of 280.
Contributed By: Sonal Natani MS(Finance), ICFAI, Hyderabad.
