Tag: technical analysis

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.

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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.

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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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Analysis: MTNL (MTE)

Today’s pick is MTNL [stockquote]MTNL[/stockquote]. The stock has been range bound for most part of the year. However, after reaching the 52 weeks high at 43, the stock is in a continuous downtrend. In the last three month period, the stock tanked -33% Vs. 11% as that of Nifty’s return.

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Oscillators RSI and CMO are at currently at 38 and -32 are hovering close to over-sold territory.

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.

The short-term technicals show a 4X9 bullish cross-over for the stock.

cor

MTNL’s average correlation of 0.58 with the Nifty is positive and strong. The stock will replicate the movements of Nifty because of the co-efficient. [stockquote]NIFTYBEES[/stockquote]

vol

MTNL has a historical volatility in the range of 0.4 to 1.2. The scrip’s volatility is currently towards the lower side of the range.

Analysts have mixed expectations regarding this stock. Next set of earnings can help bring a different picture on the charts.

Looking at these technicals a short-term buy is suggested, but one should be cautious. The long-term trend-line is headed to the pits.

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Analysis: WSTCSTPAPER

Today’s pick is [stockquote]WSTCSTPAPR[/stockquote]. For most part of the year the stock was range-bound between 40 to 60 levels. Starting Sep it saw a breakout of the resistance at 60 levels and since, it has been on a constant up-trend. The stock is currently trading at its 52-week high. In the last three months, the stock moved 118% against 9% as that of Nifty’s.

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Oscillators RSI and CMO are at currently at 65 and 41 are closing in towards the over-bought territory.

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

The long-term and short-term GMMA lines are spread out and are both suggesting a bullish move for the scrip.

cor

WSTCSTPAPR’s average correlation of 0.52 with the Nifty is positive. The stock will be able to replicate the movements of Nifty. [stockquote]NIFTYBEES[/stockquote]

vol

WSTCSTPAPR has a historical volatility in the range of 0.4 to 1.6. The scrip’s volatility is currently in the middle of the range.

Looking at these technicals the stock is short-term and long-term buy.

Disclaimer: I hold this stock in my portfolio.

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