Intraday Stock Tips for September 6th, 2010 (06/09/2010): Buy Indian Hotels
September 6, 2010 by admin
Filed under Analyst's Corner, General
Intraday Share Market Tips for 6th September, 2010 (06/09/2010): Buy Indian Hotels
On the Daily Charts, INDHOTEL has made a Bullish Engulfing Candlestick, on Friday. The prices have inched above the 50-Days SMA (Simple Moving Average) and 20-Days EMA (Exponential Moving Average) of 103.37 & 104, respectively with a good spurt in volume.
The prices crossed their important resistance of 105.60 on Friday by making a high of 108. 14-Days RSI (Relative Strength Index) has strengthened on the Charts and is quoting at 57.40 (RSI below 50 indicates weakness or confirms the Selling signal).
The Positive Directional Index (14.24) is still below the Negative Directional Index (41.33), ADX (Average Directional Index) has gained strength on the Intraday Charts and is quoting at 20.92 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 INDHOTEL only if it trades above 108 for the Targets of 110 & 111.40, with the Strict Stop Loss of 106.20.
Contributed By: Sonal Natani MS(Finance), ICFAI, Hyderabad.
