Share Market Intraday Tips for 6th September, 2010 (06/09/2010): Buy Reliance Capital
September 6, 2010 by admin
Filed under Analyst's Corner, General
Stock Intraday Tips for 6th September, 2010 (06/09/2010): Buy Reliance Capital
On the Daily Charts, RELCAPITAL has made a Small White Candlestick, on Friday. The prices are trading above the 50-Days SMA (Simple Moving Average) and 20-Days EMA (Exponential Moving Average) of 771.03 and 775.62, respectively. The prices tested their important resistance of 786 on Friday by making a high of 786.80.
The 14-Days RSI (Relative Strength Index) has strengthened on the Charts and is quoting at 54.84 (RSI below 50 indicates weakness or confirms the Selling signal). The Positive Directional Index (30.84) is above the Negative Directional Index (18.02), ADX (Average Directional Index) has gained strength on the Intraday Charts and is quoting at 20.05 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 RELCAPITAL only if it trades above 789 for the Targets of 806 & 808, with the Strict Stop Loss of 778.
Contributed By: Sonal Natani MS(Finance), ICFAI, Hyderabad.
