Hot Trading Strategies and Stock Ideas for September 21, 2010 (21/9/2010): Buy HeroHonda
September 21, 2010 by admin
Filed under Analyst's Corner, General
Hot Share Trading Strategies and Share Market Ideas for September 21, 2010 (21/9/2010): Buy HeroHonda
On the Daily Charts HEROHONDA has made a Long White Candlestick, showing the strength in the stock, with a spurt in volume. Yesterday, the stock bottomed out very beautifully and gained almost 4% in a day.
The stock moved above its 20-days EMA (Exponential Moving Average) of 1773.49 and made a high of 1832 for the day. Stock’s 50-Days SMA (Simple Moving Average) is quoting at 18.48.22. 14-Days RSI (Relative Strength Index) is quoting at 55.18 on the Charts (RSI below 50 indicates weakness or confirms the Selling signal).
The Positive Directional Index (19.33) is still below the Negative Directional Index (21.78), ADX (Average Directional Index) has strengthened on the Intraday Charts and is quoting at 21.78 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 HEROHONDA at the levels of 1831-1832 for the Targets of 1850 & 1860, with the strict Stop Loss of 1820.
Contributed By: Sonal Natani MS(Finance), ICFAI, Hyderabad.
