Intraday Stock Tips for August 3rd, 2010 (03/08/2010): Buy Bharti Airtel
August 3, 2010 by admin
Filed under Analyst's Corner, General
Intraday Share Market Tips for August 3rd, 2010 (03/08/2010): Buy Bharti Airtel
On the Daily Charts BHARTIARTL has made a White Opening Marubozu Candlestick, showing the strength in the stock. The stock opened above its 20-Days EMA (Exponential Moving Average) of 302.79, at the level of 308.
For the day, it made a high of 320. Its 50-Days SMA (Simple Moving Average) is quoting at 280.92. 14-Days RSI (Relative Strength Index) is quoting at 64.64 on the Charts (RSI below 50 indicates weakness or confirms the Selling signal).
The Positive Directional Index (27.31) has crossed the Negative Directional Index (17.36), ADX (Average Directional Index) has gained strength and is quoting at 34.57 on the Charts. ADX’s value above 20 and near 40 indicates that the underlying trend is strengthening.
Hence, it is recommended to buy BHARTIARTL only if it trades above 320 for the Targets of 326 & 329, with the strict Stop Loss of 316.
Contributed By: Sonal Natani MS(Finance), ICFAI, Hyderabad.
