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Research weekly picks Weekly Picks 26th August 2024

Weekly Picks 26th August 2024

Written by - Fisdom Research

August 24, 2024 5 minutes

1. JYOTI CNC AUTOMATION LTP 1,264

CounterJYOTI CNC AUTOMATION LTP 1,264
CallBuy on dip
Target 11,348
Target 21,390
Stop Loss1,180 (Closing Basis)
Time Horizon2-3 weeks

Jyoti CNC Automation Ltd manufactures a wide range of CNC machines, including simultaneous 5-Axis CNC machines. Their diverse portfolio also includes CNC Turning Centers, CNC Turn Mill Centers, CNC Vertical Machining Centers (VMCs), CNC Horizontal Machining Centers (HMCs), simultaneous 3-Axis CNC machining centers, and multi-tasking machines.

Previous Close1,222.25TTM EPS8.04
52 Week High1,449.95TTM PE157.23
52 Week Low331.0P/B16.37
Sector PE122.55Mkt Cap (Rs. Cr.)28,748
(Source: Moneycontrol, BSE, Fisdom Research)

Technical Outlook

C:\Users\rpatil\Desktop\1-Jyoti Cnc Automation Limi.jpeg

(Source: Fisdom research)

  • JYOTI CNC has given a falling channel breakout on the weekly chart, sustained above the 1200 mark.
  • Breakout has sustained above-average volumes.
  • The momentum indicator RSI (14) has given a rectangle pattern breakout and sustained above the 50 mark.
  • Counter has given a Bullish Golden Crossover where 9 EMA has crossed over 21 EMA.
  • MACD has given a positive breakout and moved above polarity.
Invest Now

2. HDFCLIFE LTP 729

CounterHDFCLIFE LTP 729
CallBuy on dip
Target 1798
Target 2830
Stop Loss660 (Closing Basis)
Time Horizon2-3 weeks

HDFC Life Insurance Company Limited offers a range of long-term life insurance products, including Protection, Pension, Savings and Investment, and Health plans, along with specialized Children’s and Women’s Plans. The company operates through various segments such as Participating and Non-Participating Life and Pension (both Individual & Group), Non-Participating Annuity, Health, and Unit Linked insurance for both individual and group needs.

Previous Close726.00TTM EPS7.61
52 Week High730.50TTM PE95.80
52 Week Low511.40P/B9.87
Sector PE24.94Mkt Cap (Rs. Cr.)156,843
(Source: Moneycontrol, BSE, Fisdom Research)

Technical Outlook

C:\Users\rpatil\Desktop\1-Hdfc Life Insurance Compa.jpeg

(Source: Fisdom research)

  • HDFC LIFE has given a horizontal resistance breakout and sustained above the 725 mark with higher relative volumes. Counter had given a falling trendline breakout indicating an overall change in momentum to positive on the weekly chart. 
  • Momentum indicator RSI (14) has given a breakout on the weekly chart and has moved above the 70 mark.
  • Stock has been trading above major EMA on the weekly chart maintaining the bullish momentum.
  • MACD has given a positive crossover indicating a shift in momentum to positive.
Invest Now

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