Intraday Stock Tips for September 7th, 2010 (07/09/2010): Buy Pantaloon Retail
September 7, 2010 by admin
Filed under Analyst's Corner, General
Intraday Share Tips for 7th September, 2010 (07/09/2010): Buy Pantaloon Retail
On the Daily Charts PANTALOONR has made a Long White Candlestick, with an excellent spurt in volume. The prices moved and even opened above their 20-Days EMA (Exponential Moving Average) of 468.77, by making a high of 489.90 for the day. Stock’s 50-Days SMA (Simple Moving Average) is quoting at 459.59.
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 60.08 on the Charts (RSI below 50 indicates weakness or confirms the Selling signal).
The Positive Directional Index (29.20) has crossed the Negative Directional Index (15.35), ADX (Average Directional Index) has gained strength and is quoting at 28.64 on the Charts. ADX’s value above 20 and near 40 indicates that the underlying trend is strengthening.
Hence, it is recommended to buy PANTALOONR at the levels of 486-486.50 for the Targets of 495 & 497, with the strict Stop Loss of 480.
Contributed By: Sonal Natani MS(Finance), ICFAI, Hyderabad.
