Weekly Picks 16th January 2023

1. TCS LTP 3375

Counter	TCS LTP 3375
Call	BUY On DIP
Target	3500
Stop Loss	3240
Time Horizon	2-3 weeks
Notes	BUY-ON-DIP at market and towards 3320

Tata Consultancy Services is an IT services, consulting, and business solutions organization that has been partnering with many of the world’s largest businesses in their transformation journeys for over 50 years. A part of the Tata group, India’s largest multinational business group, TCS has over 592,000 of the world’s best-trained consultants in 55 countries. The company generated consolidated revenues of US $25.7 billion in the fiscal year ended March 31, 2022.

Previous Close	3,334.3	TTM EPS	111.18
52 Week High	4,043.0	TTM PE	30.35
52 Week Low	2926.1	P/B	13.75
Sector PE	29.33	Mkt Cap (Rs. Cr.)	12,34,765

(Source: Moneycontrol, BSE, Fisdom Research)

Technical Outlook

TCS closed the week above the 60-Weeks Moving Average Support levels of 3307 for first time since Nov-21.
The counter has formed decent mid-term base at around 3200 levels over the past one & half months.
Technically, the immediate bias is “Buy-On-Dip” towards 3320 & lower support levels with stop below 3240 or 3180 levels on a daily closing basis.
On the higher-end, the counter can target major mid-term hurdle of 3480-3500 levels which need to be held for fresh break-out towards 3800 levels once again through following months.
Overall, immediate short to mid-term bias remains “Range to Up” above supports of 3240 & major 3150 levels

Open Interest Study

(Source: Fisdom research)

Open Interest maximum Put build-up is at around 3300 & next at 3200 levels. This indicates strong support for Jan-23 series.
On the Higher-end, the maximum call build-up is witnessed at around 3400 & next 3500 levels which can be viewed as potential targets-cum-hurdle for the current series

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2. APLAPOLLO LTP 1135

Counter	APLAPOLLO LTP 1135
Call	BUY
Target	1250
Stop Loss	1050
Time Horizon	3-4 weeks
Notes	Buy on dip at the market and towards 1080

With a capacity to produce 2.6 million Tonnes per annum, APL Apollo Tubes Limited is the largest producer of structural steel tubes in India. We have an extended distribution network of warehouses and branch offices in 29 cities across the country, catering to domestic and 20 countries worldwide. Headquartered at Delhi NCR APL Apollo, with its world-class facilities, widely spread 3-tier distribution network, and over 800 dealers, it is committed to strengthening India’s infrastructural backbone with its structural tubes and hollow sections.

Previous Close	1128.40	TTM EPS	19.32
52 Week High	1193.00	TTM PE	58.75
52 Week Low	770.90	P/B	12.76
Sector PE	30.52	Mkt Cap (Rs. Cr.)	31,464

(Source: Moneycontrol, BSE, Fisdom Research)

Technical Outlook

In Oct-22, APLAPOLLO delivered a monthly consolidation breakout underway since Jul-21.
Counter re-tested the support zone & witnessed a strong closing at around 1135 last week.
Technically, the counter holds “Buy-on-dip” & “accumulate” outlook on dips towards 1080 & lower. Maintain a weekly stop-loss below 1050.
On the higher end, the counter can slowly & gradually inch higher towards 1250-1300 levels through next couple of weeks.

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