Stock Tips for 28th July, 2010 (28-07-2010): Buy Sintex
July 27, 2010 by admin
Filed under Analyst's Corner, General
Share market Tips for 28th July, 2010 (28-07-2010): Buy Sintex
On the Weekly Charts, SINTEX has given a good breakout after crossing its important resistance of 370 by making a high of 372 for the day. Stock is very well trading above the levels of its 50-Days SMA (Simple Moving Average) of 308.70 and 20-days EMA (Exponential Moving Average) of 339.84.
The stock gave a good upside momentum at the ending moment of the trading session, hence a good up run in the stock is also expected the very next day. 14-Days RSI (Relative Strength Index) is quoting at 73.68 on the Daily Charts (RSI below 50 indicates weakness or confirms the Selling signal).
The Positive Directional Index (28.54) has crossed the Negative Directional Index (9.41), giving a positive indication. ADX (Average Directional Index) is quoting at 29.79 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 SINTEX only if it trades above 370 for the Targets of 376 & 380, with the Strict Stop Loss of 366.
Contributed By: Sonal Natani MS(Finance), ICFAI, Hyderabad.
