Tag: technical analysis

Analysis: ATUL

Today’s pick is ATUL [stockquote]ATUL[/stockquote]. The stock has been on an up-trend ever since the start of the year. It just saw its 52-week high of Rs. 475 last week.The stock has a support near Rs. 400 levels. In the last three months, the stock has moved 26% vs. a meager 4% of the Nifty’s.

ATUL Technical analysis chart

Oscillators RSI and CMO are nearing towards the over-sold territory. Also, the stock is trading close to the lower Bollinger band and is hence a bullish sign.

The MACD line and the signal line are moving far from each other but not suggesting any direction. Long-term GMMA lines are experiencing an expansion giving out an extremely bullish signal for the scrip. Short-term technical gave a 18×9 and 18×4 bearish signal recently.

Atul Correlation Chart

ATUL’s average correlation with the Nifty is 0.57 is positive and strong. The scrip will be replicating the movement of Nifty closely. [stockquote]NIFTYBEES[/stockquote]

ATUL Volatility Chart

ATUL has a historical volatility in the range of 0.4 to 0.9. The scrip’s volatility currently is in the middle of the range.

To conclude, given these technicals, the stock is a short-term HOLD. For the long-term we suggest a BUY because of the strong underlying trend with a keen eye around the Rs. 400 levels.

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Analysis: MPHASIS

Today’s pick is MPHASIS [stockquote]MPHASIS[/stockquote]. The stock had a real good start of the year with an uptrend till April, but it could not sustain the momentum and crashed to its trend-line to find support. Since then it has been in an up-trend finding constant support in the trend-line until recently, where it closed below the trend-line. In the last three months, the stock has moved – 6% vs. 5% of the Nifty’s.

MPHASIS technical analysis chart

Oscillators RSI and CMO are nearing over-sold territory.

The MACD line and the signal line are moving close to each other – directionless. Both long-term and short-term GMMA lines are seeing a constrained movement leading to an indecisive future for the stock. Short-term technical gave a 4×9 bullish signal for the stock last week.

MPHASIS Correlation Chart

MPHASIS’s average correlation with the Nifty is 0.30. The scrip will be not be replicating the movement of Nifty closely. [stockquote]NIFTYBEES[/stockquote]

MPHASIS Volatility chart

MPHASIS has a historical volatility in the range of 0.4 to 1.4. The scrip’s volatility currently is in the lower part of the range.

To conclude, given these technicals, the stock is a short-term HOLD. For the long-term we will take a stand based on how the long-term GMMA lines unravel themselves.

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Analysis: NIFTYBEES

Today’s pick is NIFTYBEES – the ETF that tracks the Nifty 50 Index. [stockquote]NIFTYBEES[/stockquote]. After an initial up-trend at the start of this year that lasted till the end of February, the index saw 40-point correction in May. After testing the support at Rs. 480, the ETF got back on its horse and has been trending upwards ever since. The ETF just experienced its 52-week high at Rs. 600 a week ago. In the last three months, the scrip is up 6%.

NIFTYBEES technical analysis chart

Oscillators RSI and CMO are in no man’s land suggesting no particular direction for the ETF.

The MACD line and the signal line are moving close to each other – indicating a lack of any particular direction. However, both long-term and short-term GMMA lines are well spread, giving a bullish sign for the ETF. Also, the 4×9 technical gave a bullish signal for the ETF last week.

NIFTYBEES volatility chart

NIFTYBEES has a historical volatility in the range of 0.2 to 0.35. The scrip’s volatility currently is in the lowest of the range.

To conclude, given these technicals, NIFTYBEES is a short-term BUY. Following the current trend in progress, the scrip is also a long term BUY with a resistance level close to Rs. 600.

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Analysis: COALINDIA

Today’s pick is COALINDIA [stockquote]COALINDIA[/stockquote]. The stock had a real good start of the year with an uptrend till May, but it could not sustain the momentum and crashed to its support levels at Rs. 300. The stock has been in an uptrend since June, touching its 52 week high around Rs. 380. In the last three months, the stock has moved – 4% vs. 5% of the Nifty’s.

COALINDIA technical analysis chart

Oscillators RSI and CMO are in no man’s land suggesting no direction for the stock.

The MACD line and the signal line are moving close to each other – directionless. Both long-term and short-term GMMA lines are seeing a constrained movement leading to an indecisive future for the stock. Short-term technical gave an 18×9 bearish signal for the stock last week.

COALINDIA correlation chart

COALINDIA’s average correlation with the Nifty is zero. The scrip will be not be replicating the movement of Nifty. [stockquote]NIFTYBEES[/stockquote]

COALINDIA volatility chart

COALINDIA has a historical volatility in the range of 0.3 to 0.9. The scrip’s volatility currently is in the lower range.

To conclude, given these technicals, the stock is a short-term HOLD. However, given the current up-trend in the progress, the scrip is a long term BUY with a resistance level close to Rs. 380.

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Analysis: MARICO

Today’s pick is MARICO [stockquote]MARICO[/stockquote]. The stock has been in an uptrend since the very beginning of the year. It touched the 52 week high of Rs. 232 a couple of weeks ago, and is still continuing in the upwards direction. In the last three months, the stock is up 15% vs. 5% of the Nifty’s.

MARICO technical chart

Oscillators RSI and CMO are in no man’s land suggesting no direction for the stock.

The MACD line and the signal line are moving close to each other – directionless. Both long-term and short-term GMMA lines are well dispersed giving a very prominent bullish signal for the stock. Short-term technical gave a 4×9 bullish signal for the stock last week.

MARICO correlation chart

MARICO’s average correlation of 0.35 with the Nifty is positive. The stock will replicate the movements of Nifty. [stockquote]NIFTYBEES[/stockquote]

MARICO volatility chart

MARICO has a historical volatility in the range of 0.4 to 0.8. The scrip’s volatility currently is in the lower range.

To conclude, given these technicals, the stock is a short-term BUY. Following the current trend in the progress, the scrip is also a long term BUY.

Disclaimer: The author has a long position in this stock

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