Bharat Forge Limited is the flagship company of the Pune-based Kalyani Group, which has interests in forging, auto components, speciality steels, infrastructure, renewable energy and speciality chemicals businesses. BFL is the largest forging company in India and among the largest players in the world, second only to Thyssen Krupp in terms of installed capacity and revenues. BFL has a diversified global customer base including the top five CV and PV manufacturers in the world and caters to key global automotive OEMs and Tier I suppliers.
Previous Close
1120.3
TTM EPS
16.8
52 Week High
1163.5
TTM PE
68.7
52 Week Low
743.6
P/B
8.1
Sector PE
47.6
Mkt Cap (Rs. Cr.)
53,845
(Source: Moneycontrol, BSE, Fisdom Research)
Technical Outlook
(Source: Fisdom Research)
BharatForge achieved a new “All Time High” weekly close last week.
After consolidating and retracing its previous impulsive up-move, the stock is poised for a new upward movement.
The stock is considered a buy-on-dip towards immediate supports at 1100 & 1050 levels, with a significant support level at 1000, anticipating levels beyond 1400 in the coming months.
Open Interest Study
Expiry
CP
Strike
Open Interest
28 Dec 2023
CE
1200
1283
28 Dec 2023
CE
1150
811
28 Dec 2023
PE
1000
565
28 Dec 2023
PE
1100
504
28 Dec 2023
CE
1160
497
28 Dec 2023
CE
1290
391
28 Dec 2023
PE
1050
389
28 Dec 2023
CE
1250
381
28 Dec 2023
CE
1170
303
The highest Call Option build-up for Bharatforge in December Open Interest is at 1200 & 1150 Strike Rates, suggesting a potential upside limitation for about a week.
Conversely, on the downside, there is notable Put Option build-up around 1100 & 1100 Strikes, creating a “Tug-Of-War” scenario at approximately 1100 level.
Buying on dips towards 1100 could offer a favorable risk-reward ratio for anticipated higher levels in the coming weeks.
In the December series, one might consider a Bullish Ratio Spread, anticipating elevated levels by the end of the month.
Hindustan Unilever Limited (HUL) is a British-owned Indian consumer goods company headquartered in Mumbai. It is a subsidiary of the British company Unilever. Its products include foods, beverages, cleaning agents, personal care products, water purifiers and other fast-moving consumer goods.
Previous Close
2545.6
TTM EPS
43.8
52 Week High
2769.7
TTM PE
58.6
52 Week Low
2393.0
P/B
12.3
Sector PE
62.1
Mkt Cap (Rs. Cr.)
602,352
(Source: Moneycontrol, BSE, Fisdom Research)
Technical Outlook
(Source: Fisdom Research)
HUL has been in a consolidation phase since July 2023, confined within a narrow range of 2425 to 2600 levels.
The counter’s under-performance is expected to improve in the coming weeks.
Consider accumulating positions in the stock at market price and during dips. Additionally, consider adding positions when it consistently stays above 2600 levels, targeting higher levels of 2750-2800 and further upward movements.
Open Interest
Expiry
CP
Strike
Open Interest
28 Dec 2023
CE
2600
3793
28 Dec 2023
CE
2700
1181
28 Dec 2023
PE
2500
839
28 Dec 2023
PE
2600
776
28 Dec 2023
PE
2400
686
28 Dec 2023
CE
2580
584
28 Dec 2023
CE
2500
580
28 Dec 2023
CE
2540
519
28 Dec 2023
CE
2800
510
In December, HUL’s Open Interest sees the highest Call Option Build-Up at 2600 & 2700 Strikes, suggesting potential immediate obstacles for the stock.
Conversely, there is significant Put Option build-up at 2500 & 2600 Strikes, indicating support levels.
The stock may be considered for a Buy-on-Dip strategy in the coming days, anticipating pull-backs and impulsive swings towards higher levels in the weeks to follow.
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