Weekly Picks 10th June 2024

1. JK PAPER LTP 405

Counter	JK PAPER LTP 405
Call	Buy on dip
Target 1	430
Target 2	445
Stop Loss	380
Time Horizon	2-3 weeks
Notes	50% at dip near 395

JK Paper Ltd is a paper manufacturing company. Its products are paper and paper board. The company offers various categories of paper products including official documentation such as photocopy and multi-purpose papers for use in desktops, photocopiers, and multifunctional devices; uncoated writing and printing paper; coated paper and board; and packaging board to service the varied needs of the packaging industry. It markets the products through the distribution network of distributors, depots, regional marketing offices, and other dealers. The product brands of the company include JK Cedar, JK Copier, JK Easy Copier, and Others. The majority of the company’s revenue comes from India.

Previous Close	397.3	TTM EPS	66.22
52 Week High	452	TTM PE	6.13
52 Week Low	306.4	P/B	2.29
Sector PE	14.60	Mkt Cap (Rs. Cr.)	6,875

_{^{(Source: Moneycontrol, BSE, Fisdom Research)}}

Technical Outlook

_{^{(Source: Fisdom research)}}

JK PAPER has given a three-month consolidation breakdown.
On the daily timeframe, the stock is trading above its major EMA, while on the weekly timeframe, it is finding support at the 100 EMA, confirming its overall performance.
On the daily timeframe, the momentum oscillator RSI (14) is above 55 and has given a consolidation breakthrough.
Volumes have risen over the 20-day average, and positive price action confirms the breakout.

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2. BIOCON LTP 336

Counter	BIOCON LTP 336
Call	Buy on dip
Target 1	355
Target 2	370
Stop Loss	315
Time Horizon	2-3 weeks
Notes	50% at dip near 328

Biocon Ltd manufactures biotechnological products catering to the healthcare segment. The company is engaged in all phases of the product cycle from discovering to development & then commercializing the same drugs. They use fermentation-based technology, creating cost effective drugs. Biocon produces anti diabetic agents like Acarbose, Pioglitazone, Repaglinides & Rosiglitazone. In the biological segment they produce Insulin, Erythropoietin (EPO), Filgrastim (GCSF), Streptokinase & Monoclonal Antibodies. The company also produces & markets a mix of specialty & industrial enzymes for industries like paper, brewing, beverages, food, brewing, textiles & distilling. The company’s drug portfolio consists of lovastatin, simvastatin, pravastatin and atorvastatin.

Previous Close	332.8	TTM EPS	8.52
52 Week High	341.2	TTM PE	39.44
52 Week Low	217.5	P/B	4.26
Sector PE	40.23	Mkt Cap (Rs. Cr.)	40,340

_{^{(Source: Moneycontrol, BSE, Fisdom Research)}}

Technical Outlook

(Source: Fisdom research)

BIOCON has given a triangle pattern breakout on the weekly time frame.
High volume activity on the rise confirms bullish price action.
The counter is trading above its 21, 50, and 100 Exponential moving averages on the weekly and daily charts, confirming its overall performance. 10 & 20 DEMA is acting as a good support zone.
The momentum oscillator RSI (14) is above 65, breaking the previous recent highs. The MACD indicator is reading above its line of polarity on the weekly scale.

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Fisdom Research