1. GUJGASLTD LTP 506.85
| Counter | GUJGASLTD LTP 506.85 |
| Call | Buy on dip |
| Target 1 | 540 |
| Target 2 | 580 |
| Stop Loss | 460 |
| Time Horizon | 3-4 weeks |
| Notes | — |
Gujarat Gas Limited (GGL) is India’s largest City Gas Distribution (CGD) Company in terms of sales volume operating in 44 districts in 6 states of Gujarat, Maharashtra, Rajasthan, Haryana, Punjab & Madhya Pradesh and 1 Union territory of Dadra & Nagar Haveli.
GGL continues to hold the leadership position in CGD industry in terms of size and scale of operation, with more than 20 lakh households, over 14,700 commercial customers, 800+ CNG stations, 4,352 industrial units and more than 37,000 kilometre of natural gas pipeline network. The company is distributing approx. 9.3 mmscmd of natural gas.
| Previous Close | 506.2 | TTM EPS | 18.22 |
| 52 Week High | 526.0 | TTM PE | 27.81 |
| 52 Week Low | 397.0 | P/B | 6.20 |
| Sector PE | 46.1 | Mkt Cap (Rs. Cr.) | 34,884 |
(Source: Moneycontrol, BSE, Fisdom Research)
Technical Outlook
(Source: Fisdom Research)
- The counter has given a “Falling Trend-Line” Break-out last week. The counter closed on a solid note, forming a “Bullish Engulfing” candle.
- The counter can be looked for buying on a dip towards 490 & 470 levels for potential targets of 540 & 580 levels on higher-end.
- The counter can witness fresh buying interest once it sustains above the central 580-600 zone in months to come.
Open Interest Study
- As per Jan Option Chain study, the maximum CE build-up is witnessed at 500 & 510 Strikes, while the maximum PE build-up is at 500 & 505 Strikes.
- A bullish Long Ratio Spread can be looked into for this month.
F&O Strategy
| Scrip | GUJGAS LTP 506.85 |
| Risk | Moderate |
| Ratio | 1:1 |
| Bias | Range to pullback above 440 levels |
| Max Reward Expected | ₹ 33,250 |
| Max Risk Expected | ₹ 16,750 |
| Action | Scrip | Quantity | Entry Price | LTP |
| BUY | GUJGAS JAN 500 CE | 1250 | 19.75 | 19.75 |
| SELL | GUJGAS JAN 540 CE | 1250 | 6.35 | 6.35 |
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2. IRCTC LTP 906.15
| Counter | IRCTC LTP 906.15 |
| Call | Buy on dip |
| Target 1 | 960 |
| Target 2 | 1220 |
| Stop Loss | 850 |
| Time Horizon | 3 – 4 Weeks |
| Notes | — |
Indian Railway Catering and Tourism Corporation Ltd. (IRCTC) is a “Mini Ratna (Category-I)” Central Public Sector Enterprise under Ministry of Railways, Government of India. IRCTC was incorporated on 27th September, 1999 as an extended arm of the Indian Railways to upgrade, professionalize and manage the catering and hospitality services at stations, on trains and other locations and to promote domestic and international tourism through development of budget hotels, special tour packages, information & commercial publicity and global reservation systems.
| Previous Close | 901.5 | TTM EPS | 13.27 |
| 52 Week High | 923.45 | TTM PE | 68.27 |
| 52 Week Low | 557.10 | P/B | 29.2 |
| Sector PE | 68.43 | Mkt Cap (Rs. Cr.) | 72,472 |
(Source: Moneycontrol, BSE, Fisdom Research)
Technical Outlook
(Source: Fisdom Research)
- The counter gave a consolidation break-out above 800 levels & high of 950 before ending at 906 levels last week.
- The counter remains Buy-On-Dip above immediate support of 850 & next lower 800 levels for immediate hurdles cum target of 960 & 1020 levels on higher-end. The counter can be looked for delivery, buying proportionately on dips towards 880/840 & lower for the next few weeks to months.
Open Interest
- As per Jan Option Chain data, the counter maximum CE build-up is at 920 & 900 Strikes while the maximum PE build-up is at 900 Strike, indicating a “Range to Upside capped” outlook.
F&O Strategy
| Scrip | IRCTC LTP 906.15 |
| Risk | Moderate |
| Ratio | 1:1 |
| Bias | Range to pullback |
| Max Reward Expected | ₹ 46,375 |
| Max Risk Expected | ₹ 23,600 |
| Action | Scrip | QTY | Entry Price | LTP |
| BUY | IRCTC JAN 900 CE | 875 | 47 | 47 |
| SELL | IRCTC JAN 980 CE | 875 | 20 | 20 |
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