NSE Share Tips for August 31, 2010 (31/08/2010): Buy Indian Hotels
August 31, 2010 by admin
Filed under Analyst's Corner, General
NSE Stock Market Tips for August 31, 2010 (31/08/2010): Buy Indian Hotels
On the Daily Charts INDHOTEL has made a Small White Candlestick, showing the strength in the stock. The stock tested its important resistance of 105.50 by making a high of 105.45 for the day.
The stock moved above its 20-Days EMA (Exponential Moving Average) and 50-Days SMA (Simple Moving Average) of 103.59 & 103.25, respectively. 14-Days RSI (Relative Strength Index) is quoting at 52.43 on the Charts (RSI below 50 indicates weakness or confirms the Selling signal).
The Positive Directional Index (19.40) is still below the Negative Directional Index (21.68), ADX (Average Directional Index) has gained strength on the Intraday Charts and is quoting at 21.24 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 105.50 for the Targets of 107.20 & 108, with the strict Stop Loss of 104.30.
Contributed By: Sonal Natani MS(Finance), ICFAI, Hyderabad.
