Suven Pharmaceuticals among 3 Nifty 500 stocks signalling 'buy' via SuperTrend indicator
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SuperTrend indicator- Useful tool for traders
Supertrend indicator helps traders by giving a relatively precise buy or sell signal in a trending market. Likewise, using the StockEdge data, these 3 Nifty 500 stocks signal a buy. Remember ATR or average true range considered here is of 10 days and multiplier is 3.
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What is SuperTrend indicator?
The indicator which is plotted on price helps in determining the current trend. It is constructed using just 2 parameters- period and multiplier. Moreover, the indicator makes use of the ATR to compute its value and it signals the degree of price volatility.
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When is the buy call signalled via the SuperTrend indicator?
In a case, when the indicator's value closes below the price and when the colour changes to green.
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Suven Pharmaceuticals: Buy
Supertrend: 465.98| Change after: 64 days| Close as on June 16: Rs 485.2| Change: 1.6%
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Asahi India Glass: Buy
Supertrend: 448.39| Change after: 19 days| Close as on June 16: Rs 489.15| Change: 2.6%
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Siemens: Buy
Supertrend: 3553.98| Change after: 19 days| Close as on June 16: Rs 3793.1| Change: 1.1%