10-12 Days BUY Prakash Industries Limited

BUY PRAKASH @ 177-178 FOR THE TARGET OF 198 IN NEXT 10-15 DAYS, WITH STRICT STOP LOSS OF 163                                                                                  

On the Daily Charts, stock has made Inverse Head & Shoulders Pattern, which is a Bullish Reversal Pattern. On Tuesday (06 July 2010), prices gave a breakout from its neckline with a good spurt in Volume. Even the prices have moved much above the 20-Days EMA (Exponential Moving Average) and 50-Days SMA (Simple Moving Average) of 166.62 and 174.35, respectively, which give a positive indication about the stock. It’s 14-Days RSI (Relative Strength Index) is quoting at 61.04 and 26-Days MACD (Moving Average Convergence Divergence) is quoting at 0.32.

What does Indicators Say?

1. RSI (14 Days): The values is 61.04. (RSI below 50 indicates weakness or confirms the Selling signal). 
2. MACD (26 Days): The Value is 0.32. 26-Days MACD above 0 is a positive signal.
3. +DI: 24.12, -DI: 15.98, ADX: 21.91: The Negative Directional Index has gained strength over the Positive Directional Index and also the Average Directional Index is now above 20, indicating strength in the current trend.
4. SMA (50 Days) & EMA (20 Days): The values of these two indicators are 174.35 and 166.62.