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Today’s pick is [stockquote]CROMPGREAV[/stockquote]. The stock has seen a lot of ups and downs in the past one year. For the first half of the year, the stock was in a downtrend till it reached the 110 levels which is a strong support level for the stock. The stock recently touched the same levels, and has just started moving upwards. In the last three months, the stock moved 4% against 5% as that of Nifty’s.
Oscillators RSI and CMO are at currently at 47 and 13 are close to the over-sold territory.
MACD line has just cut signal line in a bullish manner, suggesting a near term bull run for the stock.
The long-term GMMA lines are very close to each other and are unable to suggest any direction. The short-term lines have just seen a reversal, giving out a bullish sign again for the near-term.
CROMPGREAV’s average correlation of 0.54 with the Nifty is positive. The stock will be able to replicate the movements of Nifty. [stockquote]NIFTYBEES[/stockquote]
CROMPGREAV has a historical volatility in the range of 0.4 to 0.9. The scrip’s volatility is currently in the lower end of the range and hence is not a concern.
Looking at these technicals a short-term buy is suggested. A longer-term call could be made after a decisive fanning out of the GMMA long-term lines or breaking of resistance at 140 levels.
Today’s pick is [stockquote]INFY[/stockquote]. The stock has been in a down-trend since highs of Feb. However, since late August, the stock has seen a pennant formation. In the last three month period, the stock was up 2% Vs. 4% as that of Nifty’s return.
We had issued a short-term buy last month that didn’t quite pan out as we expected – the stock is basically flat since then, stuck in a narrow range.
Oscillators RSI and CMO are at currently at 50 and -3 are in no men’s land.
MACD line and the signal line are moving very close to each other and are not suggesting any trend.
The GMMA long-term as well as short-term lines are running very close to each other and are not able to suggest any direction.
INFY’s average correlation of 0.52 with the Nifty is positive and strong. The stock will replicate the movements of Nifty because of the co-efficient. [stockquote]NIFTYBEES[/stockquote]
INFY has a historical volatility in the range of 0.2 to 0.7. The scrip’s volatility is currently towards the lower side of the range.
Analysts have quite a high expectation regarding the stock. A drift in the earnings compared to the analysts expectation might pull the stock down. The stock saw stock selling by an insider worth Rs. 1 Cr. a couple of weeks ago.
Looking at these technicals we suggest that investors keep off this scrip for the short-term. A break-out of the pennant in either direction will trigger a longer-term call.
Today’s pick is [stockquote]MARUTI[/stockquote]. The stock has been on an uptrend since Jan this year. It underwent a correction period between may to August, and then continued with the up-ward movement. It is currently trading near the 52-weeks high. In the last three months, the stock moved 28% against 4% as that of Nifty’s.
Oscillators RSI and CMO are at currently at 66 and 17 are close to the over-bought territory. But, looking at the history of the stock, they still have some buffer to reach the over-bought side.
MACD line and signal line are running very close to each other.
The long-term GMMA lines are fanning out giving out a bullish signal, with a synchronized behavior of the short-term lines. A continued trend like this is extremely bullish for the stock.
The stock just saw a 4X9 bullish cross-over.
MARUTI’s average correlation of 0.48 with the Nifty is positive. The stock will not be able to replicate the movements of Nifty. [stockquote]NIFTYBEES[/stockquote]
MARUTI has a historical volatility in the range of 0.3 to 0.7. The scrip’s volatility is currently in the lower end of the range and hence is not a concern.
Looking at these technicals a short-term buy is suggested. The GMMA lines are also suggesting a longer-term buy which could be confirmed after a decisive testing of the up-trend line in place.