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Intraday Stock and Share Tips for 30th December, 2011: SELL BHEL

December 30, 2011 by  
Filed under Analyst's Corner, General

Intraday Stock and Share Tips for 30th December, 2011: SELL BHEL

On the Daily Charts, BHEL has made a Long Black Candlestick Pattern, with a considerable good spurt in Volume. The Stock is trading much below all its Moving Averages. Its 200-Days SMA (Simple Moving Average), 50-Days SMA and 20-Days EMA (Exponential Moving Average) are quoting at 356.30, 284.31 and 252.24, respectively.

It made a low of 232.35 for the day and closed at 236.25. The 14-Days RSI (Relative Strength Index) is quoting at 35.58 on the Charts (RSI below 50 indicates weakness or confirms the Selling signal), reverting from the oversold zone.

The Negative Directional Index (28.90) is still trading above the Positive Directional Index (13.44). ADX (Average Directional Index) is quoting at 35.63 on the Daily Charts. ADX’s value above 20 indicates that the trend of the stock is strengthening.

Hence, it is recommended to sell BHEL only if it trades below 236 for the Targets of 231 & 228, with the strict Stop Loss of 239.

Contributed By: Sonal Natani MS(Finance), ICFAI, Hyderabad.
Equity Research Analyst, Indore

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