Tag: NIFTYBEES

Analysis: ONGC

Today’s pick is [stockquote]ONGC[/stockquote]. The last year saw the stock trading in a 225 to 300 range and the stock was range-bound for the longest time since July. However, it broke-down the range a week ago. During the last three month period, the stock was -5% vs. the +8% of the Nifty.

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Oscillators RSI and CMO are currently at 36 and -56 and are close to the over-sold territory.

MACD line and the signal line are at distant but the histogram levels are steady – this can be the early sign of a short-term up-trend.

The GMMA chart is not giving any signal as both long-term and short-term lines are tightly packed.

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ONGC’s average correlation of 0.51 with the Nifty is positive. The stock will not replicate the movements of Nifty closely. [stockquote]NIFTYBEES[/stockquote]

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ONGC had a historical volatility in the range of 0.3 to 0.7. Current high volatility can be attributed to the Emkay disaster.

The decline in the price can also be attributed to the withdrawal of the much awaited FPO issue for the stock. With the stock trading at a 12% discount to where LIC bailed it out in March, it looks like its not so nirmal anand after all.

Looking at these technicals a short-term buy is suggested if the stock picks up from the 260 support levels. Although for the long-term, a decisive breakout from the current trading range will suggest a direction.

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Analysis: KTKBANK

Today’s pick is [stockquote]KTKBANK[/stockquote]. The last year saw the stock trading in a 60 to 140 range and the stock is in an up-trend since its Jan lows; The stock just saw 52-week highs at 140 levels. In the last three month period, the stock is up 42% vs. the Nifty’s 8%. 

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Oscillators RSI and CMO are currently at 69 and 36 and are close to the over-bought territory.

MACD line and the signal line are moving very close to each other and the histogram levels are steady – signaling a short-term consolidation in progress.

The GMMA chart shows both long-term and short-term lines fanning out. This is an extremely bullish signal for the stock.

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KTKBANK’s average correlation of 0.6 with the Nifty is positive and strong. The stock will replicate the movements of Nifty closely. [stockquote]NIFTYBEES[/stockquote]

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KTKBANK had a historical volatility in the range of 0.4 to 0.8 till Sep 12, after which we see a rise in the volatility. This high volatility asks for a cautious outlook for the stock.

Looking at these technicals a short-term hold is suggested. Although, the spreading GMMA lines are giving a strong long-term buy signal for the stock.

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Analysis: DRREDDY (RDY)

Today’s pick is [stockquote]DRREDDY[/stockquote]. The last year saw the stock trading in a 1500 to 1800 range and the stock is in an up-trend since July lows. In the last three month period, the stock was up 5.5% vs. the Nifty’s 8.3%. The stock is approaching 52-week resistance at 1815 levels, after bouncing off the support at 1500 levels.

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Oscillators RSI and CMO are at currently at 64 and 39 and are closing in towards the over-bought territory.

MACD line and the signal line are departing from each other on a positive note; the histogram levels are rising as well in-sync with the short-term up-trend.

The GMMA chart shows both long-term and short-term lines fanning out. If this continues, it would be extremely bullish for the stock.

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DRREDDY’s average correlation of 0.33 with the Nifty is positive. The stock will not replicate the movements of Nifty closely because of the low co-efficient. [stockquote]NIFTYBEES[/stockquote]

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DRREDDY has a historical volatility in the range of 0.25 to 0.45 which is a very narrow range. The scrip’s volatility is currently in the middle range and hence should not be a concern.

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Analysts already have high expectations regarding this stock, as is evident from the very high proportion of the buy and outperform calls. A single earnings miss from the firm, or an analyst downgrade might trigger a steep slide in the stock.  Also, insiders have sold about Rs. 3.5 Cr. worth of NCD’s in the last one month period.

Looking at these technicals a short-term hold is suggested. A break-out/continued resistance at the 1800 levels will be essential to direct the stock either to an up-trend/down-trend.

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Analysis: WIPRO

Today’s pick is [stockquote]WIPRO[/stockquote]. The last year saw the stock trading in a 330 to 450 range and the stock just tested the support levels around 52 week lows. In the past 50 days the stock made return of 3.8% as against 6.2% made by Nifty.

The stock has been in a down-trend since April this year, with a support near the 335 levels and resistance around 450.

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Oscillators RSI and CMO are at currently at 54 and 6 and are hovering in the no man’s land.

MACD line just crossed the signal line and is on a rise; the histogram levels are rising as well suggesting short-term up-trend.

The GMMA chart is not suggesting any directional move as of now. The short-term lines are constricting and long-term lines are spreading. When the lines fan out, we will be able to take a stand on the direction. image

WIPRO’s average correlation of 0.56 with the Nifty is positive and strong. The stock will not replicate the movements of Nifty closely. [stockquote]NIFTYBEES[/stockquote]

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WIPRO has a historical volatility in the range of 0.3 to 0.7. The scrip’s volatility is currently in the middle range and hence should not be a concern to the traders.

Looking at these technicals a short-term buy is suggested. For the long-term outlook of the scrip we will have to wait for GMMA lines to give some direction.

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Analysis: TATASTEEL

Today’s pick is [stockquote]TATASTEEL[/stockquote]. The last year saw the stock trading in a 350 to 500 range and is currently trading around the same price.

The stock has been in a down-trend since February this year, with a support near the 350 levels and resistance around 470.

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Oscillators RSI and CMO are at currently at 41 and -35 and are hovering close to the oversold territory.

MACD line and signal line are at a distance; the histogram levels are stagnant suggesting a short term consolidation.

The GMMA chart is not suggesting any directional move. The short-term lines and long-term lines are too close to each other.

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TATASTEEL’s average correlation of 0.73 with the Nifty is positive and quite strong. The stock tends to replicate the movements of Nifty quite closely. [stockquote]NIFTYBEES[/stockquote]

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TATASTEEL has a historical volatility in the range of 0.3 to 0.8. The scrip’s volatility is currently in the middle range and hence should not be a concern to the traders.

Looking at these technicals a short-term hold is suggested. For the long-term outlook of the scrip a decisive breakout above the trend-line will suggest a change in the current down-trend.

After coming out with a positive result in Q3, U.S. Steel expects a global slowdown in the metal demand for the Q4. Will it be the same scenario for the TATASTEEL for the coming quarter as well?

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