Hindustan Copper Limited (HCL), a Miniratna Category-I, Government of India (GoI) Enterprise under the administrative control of the Ministry of Mines, was incorporated on 9th November 1967 under the Companies Act., 1956. It was established as a Govt. of India Enterprise to take over all plants, projects, schemes and studies pertaining to the exploration and exploitation of copper deposits from National Mineral Development Corporation Ltd. It is the only company in India engaged in mining of copper ore and owns all the operating mining lease of Copper ore and also the only integrated producer of refined copper (vertically integrated company).
Previous Close
157.10
TTM EPS
3.0
52 Week High
174.8
TTM PE
52.2
52 Week Low
93.9
P/B
9.4
Sector PE
45.6
Mkt Cap (Rs. Cr.)
14,892
(Source: Moneycontrol, BSE, Fisdom Research)
Technical Outlook
(Source: Fisdom Research)
The counter experienced a consolidation breakout above 130 levels in July 2023, indicating potential higher targets around 200 levels.
In the last four weeks, the counter tested highs of 173 and underwent consolidation last week.
Technically, the counter remains a “Buy-On-Dip” opportunity for potential higher levels in the coming weeks.
The bias remains “Range to Up,” holding above 130 levels in the short to mid-term.
Open Interest Study
Expiry
CP
Strike
Open Interest
26-Oct-23
CE
160
420
26-Oct-23
CE
190
376
26-Oct-23
CE
170
283
26-Oct-23
PE
155
220
26-Oct-23
PE
150
167
26-Oct-23
CE
165
166
26-Oct-23
CE
150
160
26-Oct-23
PE
140
150
26-Oct-23
CE
155
143
The derivative option chain for the October series suggests an immediate maximum call option build-up at 160 and 170 strike rates, while the maximum put option build-up is around 155 and 150 strikes.
Overall, the outlook remains “Buy-On-Dip,” indicating potential higher levels in the coming weeks, with a focus on 150 and lower levels.
Chambal Fertilisers caters to the need of the farmers in twelve states in northern, eastern, central and western regions of India and is the lead fertiliser supplier in the State of Rajasthan. The Company has a vast marketing network comprising 15 regional offices, 2,200 dealers and 22,000 village level outlets.
Previous Close
295.6
TTM EPS
24.8
52 Week High
332.5
TTM PE
11.7
52 Week Low
248.4
P/B
1.9
Sector PE
15.4
Mkt Cap (Rs. Cr.)
12,032
(Source: Moneycontrol, BSE, Fisdom Research)
Technical Outlook
(Source: Fisdom Research)
Technically, the counter has been in a consolidation mode since June 2023, ranging between 250 and 325.
The counter is currently trading with a “Buy-On-Dip” outlook within the ongoing consolidation zone.
According to the Harmonic Price study, the counter maintains a “Range to Pull-Back” outlook above 250, with oscillators favoring bulls for a potential pull-back in the coming weeks.
Open Interest
Expiry
CP
Strike
Open Interest
26-Oct-23
CE
300
1134
26-Oct-23
CE
290
352
26-Oct-23
CE
310
329
26-Oct-23
CE
295
303
26-Oct-23
CE
320
289
26-Oct-23
PE
280
201
26-Oct-23
PE
290
171
26-Oct-23
PE
295
166
26-Oct-23
PE
300
165
The October Option Chain study suggests that 300 and 290 CE have the maximum Open Interest, indicating resistances.
On the lower end, 280 and 290 PE have the maximum Open Interest build-up, indicating supports on dips.
Overall, the bias remains “Range-bound” with downside capped and upside restricted.
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