Intraday Stock Tips for 31st August, 2010 (31/08/2010): Buy EIH Hotels
August 31, 2010 by admin
Filed under Analyst's Corner, General
Intraday Share Market Tips for 31st August, 2010 (31/08/2010): Buy EIH Hotels
On the Daily Charts EIHOTEL has made a White Opening Marubozu Candlestick, with an excellent spurt in volume. The prices moved above their 20-Days EMA (Exponential Moving Average) of 135.03, by making a high of 154. Stock’s 50-Days SMA (Simple Moving Average) is quoting at 127.78.
Both the 50-Days SMA (Simple Moving Average) and 20-Days EMA (Exponential Moving Average) are giving a positive crossover. 14-Days RSI (Relative Strength Index) is quoting at 70.87 on the Charts (RSI below 50 indicates weakness or confirms the Selling signal).
The Positive Directional Index (40.08) has crossed the Negative Directional Index (9.40), ADX (Average Directional Index) has gained strength and is quoting at 51.83 on the Charts. ADX’s value above 20 and near 40 indicates that the underlying trend is strengthening.
Hence, it is recommended to buy EIHOTEL only if it trades above 154.70 for the Targets of 158 & 158.40, with the strict Stop Loss of 151.60.
Contributed By: Sonal Natani MS(Finance), ICFAI, Hyderabad.
