Tuesday, April 27, 2010

Buy GSPL at 95, it can touch 105

GSPL is looking very positive and it can be bought at current levels of 95 for a target of 105.

(1) It has closed on ahigher note on weekly charts.
(2) A new positive trend is in development, the ADX is at 15, +DI=27, -DI at 15.
(3) The trend is upwards as seen on the MACD charts, where MACD line has a positive divergence and is above the MACD signal line.
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2 comments:

  1. AnishaApril 27, 2010 at 8:16 PM

    Dear Ashwini,

    I did not understand the meaning of point number 3) MACD line has a positive divergence as compared to MACD signal line. Kindly explain as I feel you have comparted the same indicator with itself.

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  2. Ashwini KhannaApril 28, 2010 at 12:20 AM

    No, I haven't compared the indicator with itself.
    On the MACD charts there are 2 lines - (a) MACD line (b) MACD signal line.
    The MACD Signal line is 9 Day moving average of the MACD line.

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