NSE Share Tips for July 28, 2010 (28/07/2010): Buy HCL Tech
July 27, 2010 by admin
Filed under Analyst's Corner, General
NSE Stock Tips for July 28, 2010 (28/07/2010): Buy HCL Tech
On the Daily Charts HCLTECH has formed a Long White Candlestick, with a very good spurt in volume, and the company is going to announce its quarterly results on the very next day.]
Both the 50-Days SMA (Simple Moving Average) and 20-Days EMA (Exponential Moving Average) are quoting at almost the same levels of 369.52 and 369.39, respectively. 14-Days RSI (Relative Strength Index) has strengthened is quoting at 59.75 on the Daily Charts (RSI below 50 indicates weakness or confirms the Selling signal).
The Positive Directional Index (26.16) has crossed the Negative Directional Index (12.33), ADX (Average Directional Index) has gained strength on intraday charts and is quoting at 19.94 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 HCLTECH at the levels of 380-381 for the Target of 390, with the Strict Stop Loss of 376.
Contributed By: Sonal Natani MS(Finance), ICFAI, Hyderabad.
