Share Intraday Tips and Trading ideas for 7th September, 2010 (07/09/2010): Buy JP Associates
September 7, 2010 by admin
Filed under Analyst's Corner, General
Stock Intraday Tips and Trading ideas for September 07, 2010 (07/09/2010): Buy JP Associates
On the Daily Charts JPASSOCIAT has made a Small White Candlestick, showing the strength in the stock, with a spurt in volume. The stock tested its important resistance of 117.50 by making a high of 117.25 for the day. The stock moved above its 20-Days EMA (Exponential Moving Average) of 116.27 and the 50-Days SMA (Simple Moving Average) is quoting at 121.48. The stock if moves above this 50-Days SMA will become stronger.
The 14-Days RSI (Relative Strength Index) is quoting at 48.73 on the Charts (RSI below 50 indicates weakness or confirms the Selling signal).
The Positive Directional Index (23.58) is still below the Negative Directional Index (25.61), ADX (Average Directional Index) has gained strength on the Intraday Charts and is quoting at 16.31 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 JPASSOCIAT only if it trades above 117.50 for the Targets of 119.80 & 121, with the strict Stop Loss of 116.
Contributed By: Sonal Natani MS(Finance), ICFAI, Hyderabad.
