Intraday Trading Ideas for August 27th, 2010 (27/8/2010): Buy Ashok Leyland
August 27, 2010 by admin
Filed under Analyst's Corner, General
Intraday Stock Trading Ideas for August 27th, 2010 (27/8/2010): Buy Ashok Leyland
On the Daily Charts, ASHOKLEY has made a White Opening Marubozu Candlestick with an excellent spurt in volume. The prices also tested its important resistance of 72 by making a high of 71.85 for the day. Stock’s 50-Days SMA (Simple Moving Average) and 20-Days EMA (Exponential Moving Average) are quoting at 69.00 and 70.42, respectively.
The 14-Days RSI (Relative Strength Index) is quoting at 52.98 on the Charts (RSI below 50 indicates weakness or confirms the Selling signal). The Positive Directional Index (23.06) is still below the Negative Directional Index (27.96), ADX (Average Directional Index) has gained strength on the Intraday Charts and is quoting at 14.70 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 ASHOKLEY only if it trades above 72 for the Targets of 72.90 & 73.50, with the strict Stop Loss of 71.15.
Contributed By: Sonal Natani MS(Finance), ICFAI, Hyderabad.
