{"id":224268,"date":"2012-10-31T11:04:44","date_gmt":"2012-10-31T05:34:44","guid":{"rendered":"http:\/\/stockviz.biz\/index.php\/?p=224268"},"modified":"2012-10-31T11:04:44","modified_gmt":"2012-10-31T05:34:44","slug":"analysis-tatasteel","status":"publish","type":"post","link":"https:\/\/stockviz.biz\/index.php\/2012\/10\/31\/analysis-tatasteel\/","title":{"rendered":"Analysis: TATASTEEL"},"content":{"rendered":"

Today\u2019s 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. <\/p>\n

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

\"image\"<\/a> <\/p>\n

Oscillators RSI<\/a> and CMO<\/a> are at currently at 41 and -35 and are hovering close to the oversold territory. <\/p>\n

MACD<\/a> line and signal line are at a distance; the histogram<\/a> levels are stagnant suggesting a short term consolidation. <\/p>\n

The GMMA<\/a> chart is not suggesting any directional move. The short-term lines and long-term lines are too close to each other. <\/p>\n

\"image\"<\/a> <\/p>\n

TATASTEEL\u2019s average correlation<\/a> of 0.73 with the Nifty<\/a> is positive and quite strong. The stock tends to replicate the movements of Nifty quite closely. [stockquote]NIFTYBEES[\/stockquote] <\/p>\n

\"image\"<\/a> <\/p>\n

TATASTEEL has a historical volatility<\/a> in the range of 0.3 to 0.8. The scrip\u2019s volatility is currently in the middle range and hence should not be a concern to the traders. <\/p>\n

Looking at these technicals a short-term hold<\/b> 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. <\/p>\n

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<\/a> for the coming quarter as well? <\/p>\n

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