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Abhishek Preetam has an MBA in Finance and started his career as a big-data specialist working at Janalakshmi Social Services. Abhishek is a firm believer in technical analysis and a systematic approach to investing. He develops algorithms and automated portfolio management systems that crunch... More
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  • Analysis: TATACOMM (TCL) 0 comments
    Feb 25, 2013 12:23 AM | about stocks: TCL

    Today's pick is TATACOMM [stockquote]TATACOMM[/stockquote]. The stock has been range-bound between Rs. 220 and Rs. 260 for most part of the year. There is a secondary support at Rs. 200 levels. The stock is again headed towards the lower end of the range. In the last three months, the stock has moved -4.1% vs. a flat Nifty.

    (click to enlarge)

    Oscillator RSI and CMO are in no man's land. The stock is trading in the middle of Bollinger band not giving any short-term directional bias. Short-term technicals saw a 9x18 bullish cross-over.

    The MACD line and signal line are moving very close to each other without giving any directional bias. Also, Long-term and short-term GMMA lines can be seen contracting, unable to give any direction to the stock.

    (click to enlarge)

    TATACOMM's average correlation with the Nifty is -0.11 which is negative. The scrip will not be replicating movement of Nifty.

    (click to enlarge)

    TATACOMM has a historical volatility in the range of 0.4 to 1.2. The scrip's volatility is currently in the lower end of the range.

    (Source: REUTERS)

    Analysts continue to have an underperform rating for the stock.

    Given these technicals, we suggest a short-term hold. For the long-term a call can be taken once this Rs. 220 - Rs. 260 range is broken in either direction. However trailing stop-losses will be of help in case sudden trend-reversal were to take place.

    The article first appeared on Your Money@StockViz.biz.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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