Intraday Trading Tips and Intraday calls for 29th July, 2010 (29/07/2010): Sell YesBank
July 28, 2010 by admin
Filed under Analyst's Corner, General
Intraday Trading Tips and Intraday calls for 29th July, 2010 (29/07/2010): Sell YesBank
On the Daily Charts, YESBANK touched its 20-Days EMA (Exponential Moving Average) of 290.15, by making a low of 290.10 for the day. Stock’s 50-Days SMA (Simple Moving Average) is quoting at 281.37.
The prices have made a Black Opening Marubozu Candlestick too for the day. 14-Days RSI (Relative Strength Index) is quoting at 54.23 on the Daily Charts (RSI below 50 indicates weakness or confirms the Selling signal).
The Negative Directional Index (21.00) has crossed the Positive Directional Index (20.54), ADX (Average Directional Index) has gained strength on the Intraday charts and is quoting at 23.18 on the Daily Charts. ADX’s value above 20 and near 40 indicates that the underlying trend is strengthening.
Hence, it is recommended to sell YESBANK only if it trades below 290 for the Targets of 285 & 283, with Strict Stop Loss of 293.
Contributed By: Sonal Natani MS(Finance), ICFAI, Hyderabad.
