Weekly Pick

Weekly Picks 08th July 2024

1. AMI ORGANICS LTP 1,421

CounterAMI ORGANICS LTP 1,421
CallBuy on dip
Target 11,560
Target 21,630
Stop Loss1,280
Time Horizon2-3 weeks
Notes50% at dip near 1,400

Ami Organics Ltd is a research and development-driven manufacturer specializing in specialty chemicals. The company produces various advanced pharmaceutical intermediates and active pharmaceutical ingredients for new chemical entities, as well as materials for agrochemicals and fine chemicals. Geographically, the majority of the company’s revenue comes from international markets.

Previous Close1,390.65TTM EPS10.68
52 Week High1,469.00TTM PE133.59
52 Week Low1,004.45P/B8.59
Sector PE42.50Mkt Cap (Rs. Cr.)5,836
(Source: Moneycontrol, BSE, Fisdom Research)

Technical Outlook

(Source: Fisdom research)

  • The Cup & Handle pattern’s weekly neckline has been broken by AMI Organics.
  • The momentum indicator RSI (14) is in a higher low setup and is showing a weekly breakout of the Cup & Handle pattern.
  • The stock recovered from the weekly 10 EMA and is now above the main EMA, indicating that the market is generally optimistic.
  • Volumes have been above 20MA on every rise for the stock.
  • The overall up move is confirmed by the MACD, which is rising and above its polarity.
Invest Now

ORIENT PAPER 58.30

CounterORIENT PAPER 58.30
CallBuy on dip
Target 162.50
Target 265.50
Stop Loss54
Time Horizon2-3 weeks
Notes50% at dip near 57.50

Incorporated in 1939 with a single paper machine, Orient Paper & Industries Ltd has evolved into a multi-product, multi-location company that goes beyond just paper. As a proud member of the esteemed C K Birla Group, one of India’s premier and dynamic business houses, Orient Paper & Industries Limited benefits from the group’s extensive experience and diverse industrial ventures. The C K Birla Group has promoted and established numerous industrial undertakings, manufacturing a wide range of products including automobiles, earthmoving equipment, engineering products, ball bearings, building materials, chemical plants, and software development. Orient Paper & Industries Ltd is also engaged in the business of paper and electrical consumer durables.

Previous Close58.56TTM EPS0.29
52 Week High62.20TTM PE201.38
52 Week Low40.00P/B0.77
Sector PE17.36Mkt Cap (Rs. Cr.)1,239
(Source: Moneycontrol, BSE, Fisdom Research)

Technical Outlook

(Source: Fisdom research)

  • On a weekly basis, Orient Paper has provided a DARVAS BOX pattern breakout. The stock came out of a consolidation zone that lasted a year.
  • The momentum indicator, RSI (14) is displaying a weekly breakout of the Symmetrical Triangle pattern and is in a higher low setup.
  • The overall breakout has been confirmed by the stock’s daily and weekly trading above the main EMA.
  • The MACD, which is rising and above its polarity, confirms the overall advance in the stock; volumes have been above the 20MA on every climb.
Invest Now

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