Stock Intraday Tips for September 9th, 2010 (09/09/2010): Buy Max India
September 9, 2010 by admin
Filed under Analyst's Corner, General
Share Market Intraday Tips for September 9th, 2010 (09/09/2010): Buy Max India
On the Daily Charts, MAX made a Long White Candlestick, with a good spurt in volume, hence proving the strength present in the stock. The stock yesterday moved above its 20-Days EMA (Exponential Moving Average) and 50-Days SMA (Simple Moving Average) of 156.09 and 156.81, respectively by making a high of 165.50.
The 14-Days RSI (Relative Strength Index) is quoting at 62.31 on the Charts (RSI below 50 indicates weakness or confirms the Selling signal).
The Positive Directional Index (21.06) is above the Negative Directional Index (15.81), ADX (Average Directional Index) has gained strength on the Intraday Charts and is quoting at 15.81 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 MAX only if it trades above 166 for the Targets of 170 & 171.60, with the strict Stop Loss of 163.20.
Contributed By: Sonal Natani MS(Finance), ICFAI, Hyderabad.
