Weekly Picks 15th January 2024

1. HCLTECH

Counter	HCLTECH LTP 1543.0
Call	Buy on dip towards 1520 & 1460
Target 1	1630
Target 2	1740
Stop Loss	1420
Time Horizon	3-4 weeks
Notes	—

The full form of HCL is Hindustan Computers Limited . HCL is a multinational IT company started in India. The company head office is located in Noida. HCL was established in 1976 as one of India’s original IT start-ups. It is a founder of modern computing with many creations, including the introduction of personal computers focused on an 8-bit microprocessor in 1978.
HCL Enterprise offers services in various sectors, including technology, talent management solutions and healthcare. It also consists of three companies:

HCL Infosystems
HCL Tech and
HCL Healthcare

Previous Close	1484.0	TTM EPS	56.92
52 Week High	1555.0	TTM PE	27.07
52 Week Low	1016.25	P/B	6.74
Sector PE	34.7	Mkt Cap (Rs. Cr.)	418,121

(Source: Moneycontrol, BSE, Fisdom Research)

Technical Outlook

(Source: Fisdom Research)

The counter gave a fresh “All Time High” weekly closing last week & ended at its highs at 1540 levels.
On an immediate basis, holding above-support levels, the bias remains ”Buy-On-Dip” for potential higher targets of 1630 & 1750 levels in weeks to come..

Open Interest Study

As per the Jan-series Derivative Option Chain study, the maximum CE build-up is around 1600 Strikes, followed by 1500 Strike Rates, while the maximum PE build-up is at 1400 Strike rates.
The Option set-up suggests “Pressure at higher end 1600” levels while dips can provide a better Risk-Reward ratio for fresh longs.

F&O Strategy

Scrip	HCLTECH LTP 1543
Risk	Moderate
Ratio	1:1
Bias	Range to pullback above 440 levels
Max Reward Expected	₹ 34,615
Max Risk Expected	₹ 16,750

Action	Scrip	Quantity	Entry Price	LTP
BUY	HCLTECH JAN 1520 CE	700	46.55	46.55
SELL	HCLTECH JAN 1600 CE	700	16	16

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2. JKCEMENT

Counter	JKCEMENT LTP 4047.45
Call	Buy on dip towards 4000 & 3900
Target 1	4200
Target 2	4400
Stop Loss	3800
Time Horizon	3 – 4 Weeks
Notes	—

JK Cement Ltd. is one of India’s leading manufacturers of Grey Cement and one of the leading White Cement manufacturer in the World. The Company has an installed Grey Cement capacity of 20 MnTPA as on date, making it one of the top cement manufacturers in the Country. One of the leading manufacturers of White Cement, globally, with a total white cement capacity of 1.20 MnTPA and wall putty capacity of 1.2MnTPA. JK White Cement is sold across 43 countries around the globe and the Company has a strong international presence with two subsidies, JK Cement Works Fujairah FZC and JK White Cement (Africa) Ltd.

Previous Close	4045.6	TTM EPS	57.47
52 Week High	4079.95	TTM PE	70.44
52 Week Low	2540.00	P/B	6.7
Sector PE	54.52	Mkt Cap (Rs. Cr.)	31,277

(Source: Moneycontrol, BSE, Fisdom Research)

Technical Outlook

(Source: Fisdom Research)

The counter has had a significant uptrend for the last few months.
From the lows of 3050 in the previous week of Oct-23, the counter gained momentum to test highs of 4000 plus levels in mid-Dec-23. After consolidation of the last three weeks, the counter is again gaining momentum.
JKCement Fut holding above the immediate support zone of 3800-3750 zone is open for higher 4200 & gradually towards the primary 4600 mid-term targets in weeks to come.

Open Interest

Jkcement doesn’t have high volumes in Option Chain. Yet, as per the Jan-series Derivative Option Chain study, the maximum CE build-up is at around 4100 Strikes, followed by 4200 Strike Rates, while the maximum PE build-up is at 3800 Strike rates.
The Option set-up suggests “Pressure at higher end 4100+” levels while dips can provide a better Risk-Reward ratio for fresh longs.

F&O Strategy

Scrip	JKCEMENT LTP 4047.45
Risk	Moderate
Ratio	1:1
Bias	Range to pullback
Max Reward Expected	₹ 27,750
Max Risk Expected	₹ 22,250

Action	Scrip	QTY	Entry Price	LTP
BUY	JKCEMENT JAN 4000 CE	250	152	152
SELL	JKCEMENT JAN 4200 CE	250	63	63

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