{"id":305441,"date":"2013-02-19T10:26:46","date_gmt":"2013-02-19T04:56:46","guid":{"rendered":"http:\/\/stockviz.biz\/index.php\/?p=305441"},"modified":"2013-02-19T10:36:35","modified_gmt":"2013-02-19T05:06:35","slug":"analysis-goldbees-2","status":"publish","type":"post","link":"https:\/\/stockviz.biz\/index.php\/2013\/02\/19\/analysis-goldbees-2\/","title":{"rendered":"Analysis: GOLDBEES"},"content":{"rendered":"

Today\u2019s pick is GOLDBEES [stockquote]GOLDBEES[\/stockquote]. The ETF started the year with an uptrend to reach 52 weeks high of Rs. 3,100 levels. This level proved to be a resistance, and the ETF saw a formation of double top by the end of November. Since then the ETF is in a continuous down-trend. In the last three months, the ETF has moved -7%<\/strong><\/b> vs. +5% of the Nifty\u2019s.<\/p>\n

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

Oscillator RSI<\/a> and CMO<\/a> have been trading close to the over-sold territory since long, and are not giving any directional bias. The ETF is trading in the lower end of a very compact Bollinger band<\/a> giving no directional <\/b>bias. Short-term technical just saw 9×4 bearish cross-over<\/b>.<\/p>\n

The MACD<\/a> line and signal line are moving parallel to each other, unable to give any outlook. Also, Long-term and short-term GMMA<\/a> lines are running close to each other and are not giving out any directional <\/b>bias.<\/p>\n

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

GOLDBEES\u2019s average correlation<\/a> with the Nifty<\/a> is -0.02<\/b> which is negative<\/b>. The scrip will not be replicating movement of Nifty. [stockquote]NIFTYBEES[\/stockquote]<\/p>\n

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

GOLDBEES has a historical volatility<\/a> in the range of 0.1 to 0.4. The scrip\u2019s volatility is currently in the lower end of the range.<\/p>\n

Given these technicals, we suggest a short-term sell<\/b>. For the long-term we could take a call based on the ETF\u2019s behavior around Rs.2,700 support levels.<\/p>\n

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