Intraday Stock Tips for 8th September, 2010 (08/09/2010): Buy BGR Energy
September 8, 2010 by admin
Filed under Analyst's Corner, General
Intraday Share market Tips for 8th September, 2010 (08/09/2010): Buy BGR Energy
On the Daily Charts, BGRENERGY crossed its consolidation phase and made a Long White Candlestick, with a good spurt in volume. The prices moved and even opened above their 20-Days EMA (Exponential Moving Average) of 805.77 and are also trading above their 50-Days SMA (Simple Moving Average) of 772.24.
For the day, the stock made a high of 860 after opening at 814.90. 14-Days RSI (Relative Strength Index) has gained strength and is quoting at 69.00 on the Daily Charts (RSI below 50 indicates weakness or confirms the Selling signal).
The Positive Directional Index (42.92) is above the Negative Directional Index (11.56), ADX (Average Directional Index) has gained strengthened and is quoting at 36.84 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 BGRENERGY only if it trades above 860 for the Targets of 885 & 911, with the strict Stop Loss of 848.
Contributed By: Sonal Natani MS(Finance), ICFAI, Hyderabad.
