Tag: technical analysis

Analysis: BOSCHLTD

Today’s pick is BOSCHLTD [stockquote]BOSCHLTD[/stockquote]. The stock started the year with a double bottom around Rs. 7,500 levels and started its up-move. After moving in a range till September, it saw a bullish breakout to reach 52 weeks high of Rs. 9,600 level in January. Since then the stock is on a down-turn and was trading around its support levels of Rs. 8,400 yesterday. In the last three months, the stock moved -9% Vs. -3% of the Nifty’s.

BOSCHLTD Technical Analysis Ltd

Oscillator RSI and CMO are currently hovering deep inside the over-sold territory, giving out a bullish signal for the scrip. close to over-bought territory. The stock is currently trading at the lower edge of a broad Bollinger bands.

The MACD line and signal line are moving parallel to each other without giving any trend reversal signal. Also, the Long-term GMMA lines are contracted and hence are not suggesting any immediate opportunities.

BOSCHLTD Correlation chart

BOSCHLTD’s average correlation with the Nifty is 0.01 which is positive but weak. The scrip will not be replicating movement of Nifty. [stockquote]NIFTYBEES[/stockquote]

BOSCHLTD volatility chart

BOSCHLTD has a historical volatility in the range of 0.2 to 0.6. The scrip’s volatility is currently in the lower end of the range.

Given these technicals, we suggest a short-term Buy. A long-term BUY is suggested if the stock holds this support level. It is suggested to have tight trailing stop-losses to book profits in case of a sudden trend-reversal.

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Analysis: CONCOR

Today’s pick is CONCOR [stockquote]CONCOR[/stockquote]. The stock started the year with a double top around Rs. 950 levels and dropped to find support at Rs. 850. After trading for a while near its support, it started its uptrend to see its 52 weeks high of Rs. 1,100. This was followed by a drop to Rs. 900 levels by Feburary, and the stock currently is again on an up-move. In the last three months, the stock moved +15% Vs. -4% of the Nifty’s.

CONCOR Technical analysis chart

Oscillator RSI and CMO are currently hovering close to over-bought territory. The stock is currently trading close to the upper edge of Bollinger bands.

The MACD line and signal line are moving parallel to each other without giving trend reversal signal. Also, the Long-term and short-term GMMA lines are spreading out and hence are pointing towards a continuation of up-move.

CONCOR Correlation chart

CONCOR’s average correlation with the Nifty is 0.45 which is positive. The scrip will be replicating movement of Nifty. [stockquote]NIFTYBEES[/stockquote]

CONCOR Volatility chart

CONCOR has a historical volatility in the range of 0.3 to 0.7. The scrip’s volatility is currently in the upper end of the range.

Given these technicals, we suggest a short-term and a long-term BUY is suggested given the underlying trend. It would be nice to have tight trailing stop-losses to book profits in case of a sudden trend-reversal.

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Analysis: TATAMOTORS (TTM)

Today’s pick is TATAMOTORS [stockquote]TATAMOTORS[/stockquote]. The stock started the year by reaching the Rs. 320 levels, followed by a drop to Rs. 220 levels by the end of June. It underwent head-and-shoulder bottom formation by reaching to Rs. 200 levels, and then started its up-move. The stock saw its 52 weeks high of Rs. 337 in January and since has been on a fall. In the last three months, the stock moved +3% Vs. -4% of the Nifty’s.

TATAMOTORS Technical analysis chart

Oscillator RSI and CMO are in no man’s land. The stock is currently trading close to the lower edge of Bollinger bands. Short-term technicals saw 18×9 bearish signal on Friday.

The MACD line and signal line are moving parallel to each other without giving any directional bias. Also, the Long-term and short-term GMMA lines are contracting and hence are unable to give any direction for the stock.

TATAMOTORS correlation chart

TATAMOTORS’s average correlation with the Nifty is 0.64 which is positive and strong. The scrip will be replicating movement of Nifty. [stockquote]NIFTYBEES[/stockquote]‘

TATAMOTORS Volatility chart

TATAMOTORS has a historical volatility in the range of 1 to 5. The scrip’s volatility is currently in the lower end of the range.

Here’s what analysts have to say about the stock.

TATAMOTORS Analysts coverage

Given these technicals, we suggest a short-term Sell. A long-term call could be taken depending on stocks price action near the support level of Rs. 280 levels.

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Analysis: ATFL

Today’s pick is ATFL [stockquote]ATFL[/stockquote]. The stock started the year with a run up to Rs. 510 levels, but was struck by double top around the levels to drop to Rs. 400 by the middle of October. Since then the stock has been on an uptrend reaching its 52 weeks high of Rs. 536 in January through February. This level has been acting as a dreaded resistance for the last few months. In the last three months, the stock moved +3% Vs. -4% of the Nifty’s.

ATFL technical analysis chart

Oscillator RSI and CMO are drifting towards over-sold bounds. The stock is currently trading close to the lower edge of Bollinger bands. Short-term technical saw a 18×4 and 9×4 bearish signal a couple of days ago.

The MACD line and signal line are moving parallel to each other without giving any directional bias. Although, the Long-term GMMA lines are currently expanding, the short-term lines are giving a negative outlook for the stock.

ATFL correlation chart

ATFL’s average correlation with the Nifty is 0.30 which is positive but weak. The scrip will not be replicating movement of Nifty. [stockquote]NIFTYBEES[/stockquote]

ATFL volatility chart

ATFL has a historical volatility in the range of 0.3 to 0.8. The scrip’s volatility is currently in the lower end of the range.

Globe capital’s has a buy call based on fundamentals:

  • Sundrop light will continue to drive growth;
  • Strong pipeline for RTE (Ready To Eat) popcorn;
  • Peanut spread can be key growth driver;
  • Foray into Bangladesh;
  • Expanding distribution network;
  • Focussing on regular Capex;
  • Increasing corn prices will not affect margins;
  • Increase in stake of Conagra Food;

Given these technicals, we suggest a short-term sell. A long-term call could be taken depending on stocks price action near the resistance level of Rs. 520 levels.

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Analysis: RELIANCE

Today’s pick is RELIANCE [stockquote]RELIANCE[/stockquote]. The stock started the year with a fall to Rs. 650 levels by the end of middle of May. After finding support, the stock has been on an uptrend ever since. It saw its 52 weeks high of Rs. 955 in January and has since been on a fall to find support along the trend-line. In the last three months, the stock moved -2% Vs. -4% of the Nifty’s.

RELIANCE Technical Analysis Chart

Oscillator RSI and CMO are drifting towards over-sold bounds. The stock is trading close to the lower edge of Bollinger bands giving out a slight bullish signal. Short-term technical saw a 9×4 bearish signal a couple of days ago.

The MACD line and signal line are moving parallel to each other without giving any directional bias. Also, Long-term and short-term GMMA lines are currently contracting but are unable to give any direction for the stock.

RELIANCE correlation chart

RELIANCE’s average correlation with the Nifty is 0.72 which is positive and strong. The scrip will be replicating movement of Nifty quite closely. [stockquote]NIFTYBEES[/stockquote]

RELIANCE volatiliy chart

RELIANCE has a historical volatility in the range of 0.3 to 0.7. The scrip’s volatility is currently in the higher end of the range.

Given these technicals, we suggest a short-term hold with a keen eye on the behavior of stock near the trend-line. A long-term call could be taken depending on the directional movement of the stock about the trend-line. It would be nice to have tight trailing stop-losses to book profits in case of a sudden trend-reversal.

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