Tag: technical analysis

Analysis: CANBK

Today’s pick is CANBK. [stockquote]CANBK[/stockquote]. After an initial uptrend till Feb, the stock started a downward move till it saw a 52 week low around the Rs. 300 levels in Sep. However, September put a fire under the stock. In the last three months, the stock moved 48% against 10% rise of Nifty’s.

stock

Oscillators RSI and CMO are at currently at 65 and 58 – over-bought territory. Although looking at the historical reversal levels, the stock still has to track 10 points.

The MACD line is headed towards the signal line and the decreasing histogram levels are suggesting a short-term bearish move.

The long-term GMMA are fanning out to give a long-term bullish outlook for the stock. The short-term GMMA lines just saw a bearish signal because of the lines cross-over.

cor

CANBK’s average correlation of 0.63 with the Nifty is positive and strong. The stock will be replicating the movements of Nifty given such a co-efficient. [stockquote]NIFTYBEES[/stockquote]

vol

CANBK has a historical volatility in the range of 0.3 to 0.9. The scrip’s volatility is in the middle range.

Looking at these technicals the stock is short-term SELL. For the long-term the stock has a clear green signal for the up moves if it holds onto the current trend-line.

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Analysis: OFSS

Today’s pick is OFSS. [stockquote]OFSS[/stockquote]. The stock has been in an uptrend through-out the past year. There was a three month consolidation phase for the stock May through July, but it could not cap the upwards movement of the scrip. The stock recorded its 52 week high of 3120 in the month of Oct following which it started moving down, finding support along the long-term trend-line. In the last three months, the stock moved 1% against 10% rise of Nifty’s.

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Oscillators RSI and CMO are at currently at 67 and 53 – the over-bought territory. Although looking at the historical reversal levels, the stock still has to track 10 points.

The MACD line and signal line are moving very close to each other, not giving enough room to suggest any direction currently.

The long-term and short-term GMMA lines are closing towards each other, not able to give any direction to the stock. However the short-term 4×9 crossover is suggesting a bullish phase for the stock.

cor

OFSS’s average correlation of -0.01 with the Nifty is negligible. The stock will not be replicating the movements of Nifty given such co-efficient. [stockquote]NIFTYBEES[/stockquote]

vol

OFSS has a historical volatility in the range of 0.4 to 1.0. The scrip’s volatility is at its lowest.

Looking at these technicals the stock is short-term BUY. We could give a long-term call once it breaks out of the pennant formation.

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Analysis: LUPIN

Today’s pick is LUPIN. [stockquote]LUPIN[/stockquote]. The stock has been in an uptrend through-out the past year. It recorded its 52 week high of Rs. 631 in the month of Sep following which it started moving in a range of Rs. 550 – Rs. 600.The stock closed above this range yesterday. In the last three months, the stock moved -3% against 11% rise of Nifty’s.

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Oscillators RSI and CMO are at currently at 66 and 56 – in the over-bought territory. Although looking at the historical reversal levels, the stock still has to track 10 points.

The MACD line in on up-move and is supported by the rising histograms, a sign of bullishness for the scrip.

The long-term GMMA lines are starting to spread out (a bullish sign) accompanied with the expanding short-term lines, suggesting a short-term bullish move for the stock. This is further confirmed by the 9×18 bullish cross-over last week.

cor

LUPIN’s average correlation of 0.30 with the Nifty is positive. Although, the stock will not be replicating the movements of Nifty given the small co-efficient. [stockquote]NIFTYBEES[/stockquote]

vol

LUPIN has a historical volatility in the range of 0.3 to 0.6. The scrip’s volatility is at its lowest.

Looking at these technicals the stock is short-term BUY. We could give a long-term call after a decisive expansion of the long-term GMMA lines.

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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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