Weekly Pick

Weekly Picks 13th May 2024

1. ALKEM LTP 5,115

CounterALKEM LTP 5,115
CallBuy on dip
Target 15,325
Target 25,450
Stop Loss4800
Time Horizon2-3 weeks
Notes50% at dip near 5,025

Alkem Laboratories Ltd, an Indian pharmaceutical enterprise, specializes in the development, manufacturing, and distribution of pharmaceutical and nutraceutical offerings. The company’s diverse portfolio includes branded generics, generic drugs, active pharmaceutical ingredients (APIs), and nutraceuticals across various therapeutic areas like anti-infective, pain management, vitamins/minerals, cardiac care, diabetology, gynecology, neurology, dermatology, osteoporosis, cardiovascular health, and muscle relaxants. These products are marketed both domestically and internationally, primarily under its pharmaceutical business segment.

Previous Close5,067.60TTM EPS131.58
52 Week High5,520.00TTM PE38.98
52 Week Low3,186.30P/B6.93
Sector PE56.57Mkt Cap (Rs. Cr.)61,323
(Source: Moneycontrol, BSE, Fisdom Research)

Technical Outlook

(Source: Fisdom research)

  • ALKEM gave a technical “Falling wedge” pattern break-out on the higher-end and prices sustained above the breakout levels on the weekly chart.
  • The counter on the weekly chart has witnessed a breakout after three months of consolidation with above-average volumes.
  • The counter is trading above its 21, 50, and 100 Exponential moving averages on the weekly chart confirming its overall performance.
  • The momentum oscillator RSI (14) has witnessed a falling channel pattern breakout on the weekly scale above 55 levels with a bullish crossover The MACD indicator is reading above its line of polarity on the weekly scale.
Invest Now

2. HEROMOTOCO LTP 4,877

CounterHEROMOTOCO LTP 4,877
CallBuy on dip
Target 15,030
Target 25,120
Stop Loss4,500
Time Horizon2-3 weeks
Notes50% at dip near 4,730

Hero MotoCorp Ltd, an Indian-based motorcycle manufacturer, produces and supplies motorcycles, scooters, and associated spare parts. Motorcycle sales constitute the primary source of consolidated revenue, followed by scooter sales. Although domestic operations contribute significantly to revenue, Hero MotoCorp also operates in Latin America, South Asia, Africa, and the Middle East. The company primarily manufactures and assembles its products domestically. Its core operations fall within the automotive segment, encompassing activities such as vehicle development, design, manufacturing, assembly, sales, and the distribution of related parts and accessories.

Previous Close4,764.90TTM EPS180.81
52 Week High4,954.35TTM PE26.98
52 Week Low2,466.00P/B6.27
Sector PE39.29Mkt Cap (Rs. Cr.)97,514
(Source: Moneycontrol, BSE, Fisdom Research)

Technical Outlook

(Source: Fisdom research)

  • HEROMOTOCOP gave a technical “Falling channel” pattern break-out on the higher-end and prices sustained above the breakout levels on the weekly chart.
  • The counter on the daily chart has also given a breakout of a triangle pattern with above-average volumes.
  • The counter is trading above its 21, 50, and 100 Exponential moving averages on the weekly chart confirming its overall performance.
  • The momentum oscillator RSI (14) has witnessed a falling wedge pattern breakout on the weekly scale above 55 levels with a bullish crossover The MACD indicator is reading above its line of polarity on the weekly scale.
Invest Now

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