Intraday Trading Tips and Trading idea for July 28th, 2010 (28/07/2010): Buy ACC
July 27, 2010 by admin
Filed under Analyst's Corner, General
Intraday Trading Tips and Trading idea for July 28th, 2010 (28/07/2010): Buy ACC
On the Daily Charts ACC has formed a Long White Candlestick, after recovering from the lows, with a very good spurt in volume.
Yesterday, the stock crossed both its 20-Days EMA (Exponential Moving Average) and 50-Days SMA (Simple Moving Average) of 832.52 and 845.14, respectively by making a high of 849.90.
The 14-Days RSI (Relative Strength Index) has strengthened is quoting at 55.24 on the Daily Charts (RSI below 50 indicates weakness or confirms the Selling signal).
The Positive Directional Index (15.97) is still quoting below the Negative Directional Index (16.82), ADX (Average Directional Index) has gained strength on intraday charts and is quoting at 24.15 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 ACC only if it trades above 851 for the Targets of 866 & 870, with the Strict Stop Loss of 844.
Contributed By: Sonal Natani MS(Finance), ICFAI, Hyderabad.
