Sunday, February 21, 2010

Hero Honda is a sell for short term traders

Hero Honda is a sell for short-term traders. On the ADX charts its moved into a trading zone from trending zone. On the RSI charts it is in the over-bought territory.
These signals are early indicators for a weak trend in the Hero-Honda prices and further fall is seen.
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2 comments:

  1. UnknownFebruary 22, 2010 at 12:22 AM

    Looks interesting!! I would think most autos would be a sell.. whats your take on RIL and Bharti?

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  2. Ashwini KhannaFebruary 22, 2010 at 10:12 AM

    Hmm... Maruti was a sell long time back. Hero Honda is a sell now. Bajaj Auto is a HOLD as its still moving up! :-)

    RIL - if you want to invest for long term then these levels are attractive to enter. For short term its not showing any clear directions.

    Bharti - The stock is still very weak. Infact the entire telecom sector looks weak. It looks like it will take 1+ year for this sector to bounce back.

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