Dear Savant Ji,
Please accept my wishes for being promoted to the post of moderator.
I am trying to put technical analysis tools for share trading (till now I have been buying/selling shares on intuition. Profit some times, losses most of the times). Hope you can help me in using these tools.
I intend to purchase shares of suzlon. For this I have collected following data -
5 day SMA (90.49) > 8 day SMA ( 88.66) indicates 'buy' for short term
20 day SMA (100.90) < 50 day SMA (102.20) probably indicates 'sell' for long term
Bollinger bands - Suzlon share price line has touched lower level of band and is moving in upward direction probably indicating 'buy'.
I intend to buy suzlon but 20 day SMA is less than 50 day SMA.
Kindly guide me whether I have interpreted these tools correctly or not . Also do I need to use further tools.
Files containg Charts of above data are also attached.
Your reply can help me a lot.
Regards,
Jitender Garg