Tag: NIFTYBEES

Analysis: STER (SLT)

Today’s pick is STER. [stockquote]STER[/stockquote]. After an initial uptrend in Feb this year, the stock deflated through June and settled in a range-bound side-ways motion ever since its merger with Sesa Goa [stockquote]SESAGOA[/stockquote] was approved. However, it just saw a very iffy breakout of the resistance level (Rs. 115) in the last trading session. In the last three months, the stock moved 14% against 13% rise of Nifty’s.

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Oscillators RSI and CMO are at currently at 68 and 55 – in over-bought territory.

The MACD line is showing a sign of pull back accompanied with the stagnation of the histogram levels, a sign of imminent bearish move for the scrip.

A long-term prediction cannot be made given that the long-term (red) GMMA lines are moving very close to each other. However, the short-term lines (blue) are experiencing a pullback, suggesting a short-term bearish move.

cor

STER’s average correlation of 0.72 with the Nifty is positive and quite strong. The stock will be replicating the movements of Nifty pretty closely. [stockquote]NIFTYBEES[/stockquote]

vol

STER has a historical volatility in the range of 0.3 to 0.8. The scrip’s volatility is currently in the middle of the range, and is not a cause of concern for the traders.

Looking at these technicals the stock is short-term SELL. Over the longer-term, we suggest a HOLD for now, with a keen eye trained towards the Rs. 115 resistance level.

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Analysis: HCLTECH

Today’s pick is HCLTECH. [stockquote]HCLTECH[/stockquote]. After being range-bound between 450 and 500 for the first half of the year, it broke-out in July, and has continued with the uptrend since. The stock just saw its 52 week high at 660 levels. In the last three months, the stock moved 8% against 13% rise of Nifty’s.

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Oscillators RSI and CMO are at currently at 51 and 4 – in no man’s land.

The MACD line just crossed signal line in a bearish manner which can pull the stock down for a short-term. Also, the short-term 9×4 technical just saw a bearish cross over for the stock.

The long-term GMMA lines are well spread out, and hence are giving a positive outlook for the stock.

cor

HCLTECH’s average correlation of 0.49 with the Nifty is positive. The stock will replicate the movements of Nifty. [stockquote]NIFTYBEES[/stockquote]

vol

HCLTECH has a historical volatility in the range of 0.3 to 0.7. The scrip’s volatility is currently in the lower side of the range.

Looking at these technicals the stock is short-term SELL. A longer term call can be taken once it becomes clear that the stock holds the current trend-line.

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Analysis: GRASIM

Today’s pick is GRASIM. [stockquote]GRASIM[/stockquote]. After a head-fake in Jan-Feb this year the stock touched its 52 week low of 2200 in June. It then swiftly swung towards its 52 week high of 3510. However, it looks as if the stock has exhausted whatever momentum it had. In the last three months, the stock has under-performed the Nifty, rising just 11% against the 12% rise of Nifty’s.

stock

Oscillators RSI and CMO are at 51 and –4 and are currently in no man’s land. The MACD line made a bullish crossover a few days ago, resulting in a slight bump up in the stock.

The long-term GMMA lines are running very close to each and are not suggesting any particular direction. In the short-term, you could possibly trade the 9X18 bullish cross-over.

cor

GRASIM’s average correlation of 0.59 with the Nifty is positive. The stock will replicate the movements of Nifty closely. [stockquote]NIFTYBEES[/stockquote]

vol

GRASIM has a historical volatility in the range of 0.3 to 0.6. The scrip’s volatility is currently in the lower side of that range.

Looking at these technicals the stock is short-term buy. A longer term call could be taken based on the stocks behavior around its 3400 resistance level.

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Analysis: RANBAXY

Today’s pick is RANBAXY. [stockquote]RANBAXY[/stockquote]. The stock was in a constant uptrend since March. However, a couple of weeks ago it exhibited a double top, and closed down below the existing trend line, suggesting a stop of the trend. In the last three months, the stock is down -6% against 11% rise of Nifty’s.

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Oscillators RSI and CMO are at currently at 46 and -21 are close to the over-sold territory, but are not directing the stock upwards.

MACD line and signal line are moving parallel to each other and are not suggesting any direction for the stock.

The long-term and short-term GMMA lines are running very close to each and hence are of not much use currently in suggesting any particular direction.

Short-term technical just saw a 4X9 bullish cross over for the stock.

cor

RANBAXY’s average correlation of 0.42 with the Nifty is positive. The stock will not replicate the movements of Nifty closely. [stockquote]NIFTYBEES[/stockquote]

vol

RANBAXY has a historical volatility in the range of 0.3 to 0.7. The scrip’s volatility is currently in the lower side of the range.

Looking at these technicals the stock is short-term buy. A medium term hold is suggested because of the direction-less movement of the stock. A longer term call could be taken based on the stocks behavior around the base of the last double top (which will be acting as a resistance level).

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Analysis: GOLDBEES

Today’s pick is GOLDBEES. [stockquote]GOLDBEES[/stockquote]. The ETF has been in a constant uptrend since the start of this year. However, since touching the 52 weeks high around 3100 levels, the stock corrected to 2950 levels and saw a pullback from the pre-existing trend-line. The 52 week high is currently behaving as a resistance level. In the last three months, the ETF is down -0.5% against 11% rise of Nifty’s.

stock

Oscillators RSI and CMO are at currently at 47 and -16 are closing in towards the over-sold territory.

MACD line has just cut signal line in a bearish manner, suggesting a near term bear run for the stock.

The long-term and short-term GMMA lines are running very close to each other not suggesting any particular direction for the ETF.

Short-term technical just saw a 9X4 bearish cross over for the ETF.  

cor

GOLDBEES’s average correlation of -0.014 with the Nifty is negative. The ETF will not replicate the movements of Nifty. [stockquote]NIFTYBEES[/stockquote]

  vol

GOLDBEES has a historical volatility in the range of 0.6 to 1.2. The scrip’s volatility is currently in the middle of the range.

Looking at these technicals the ETF is short-term hold. A pennant seems to be forming that makes us nervous suggesting a long-term buy. However, it seems to have held its trend-line over the last few trading days. At the risk of sounding too nuanced, we suggest a medium-term buy. We’ll turn long term buyers of the yellow metal once we see a bullish breakout of the pennant. 

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