Share Tips for July 26, 2010 (26/07/2010): Buy Lupin
July 25, 2010 by admin
Filed under Analyst's Corner, General
Share Market Tips for July 26, 2010 (26/07/2010): Buy Lupin
On the Daily Charts LUPIN has made a Long White Candlestick, after opening above its 50-days SMA (Simple Moving Average) of 1869.94 and crossing its 20-days EMA (Exponential Moving average) of 1887.39 by making a high of 1909.35 for the day (Friday).
The stock rose with a spurt in volume, hence again a push up can be witnessed in the stock on the next trading session. 14-Days RSI (Relative Strength Index) is quoting at 53.52 on the Charts (RSI below 50 indicates weakness or confirms the Selling signal).
The Positive Directional Index (13.14) is still below the Negative Directional Index (16.11), ADX (Average Directional Index) has gained strength and is quoting at 24.08 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 LUPIN only if it trades above 1910 for the Target of 1940, with the strict Stop Loss of 1886.
Contributed By: Sonal Natani MS(Finance), ICFAI, Hyderabad.
