Weekly Picks 17th April 2023

1. State Bank of India

State Bank of India (SBI) a Fortune 500 company, is an Indian Multinational, Public Sector Banking and Financial services statutory body headquartered in Mumbai. The rich heritage and legacy of over 200 years, accredits SBI as the most trusted Bank by Indians through generations. SBI, the largest Indian Bank with 1/4th market share, serves over 45 crore customers through its vast network of over 22,000 branches, 62617 ATMs/ADWMs, 71,968 BC outlets, with an undeterred focus on innovation, and customer centricity, which stems from the core values of the Bank – Service, Transparency, Ethics, Politeness and Sustainability.

Previous Close	528.2	TTM EPS	52.8
52 Week High	629.6	TTM PE	10.1
52 Week Low	425.0	P/B	1.6
Sector PE	13.9	Mkt Cap (Rs. Cr.)	4,75,637

(Source: Moneycontrol, BSE, Fisdom Research)

Technical Outlook

(Source: Fisdom research)

• The interim support of 500 levels for SBIN has remained intact since Feb-2023.
• Last week, the counter closed at 533 levels up 1.02%, indicating “range to positive” outlook towards a potential range above 500/480 levels.
• SBIN has immediate hurdle cum targets of 560/580 levels on the higher-end and major 620 levels thereafter.
• Fresh entry on dips should be looked upon, as the immediate bias remains under pressure while trading below 580 levels. Positionally, major interim supports are at 480 and 420 levels.

Open Interest Study

(Source: Fisdom research)

• SBIN APR-2023 open interest suggests maximum CE build-up around 540 levels, followed by 550 levels. On the other hand, maximum PE build-up is observed at 500 and 520 levels.
• Based on open interest, consider fresh long entries on dips towards 520 levels for short to mid-term delivery in cash.

F&O Strategy

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2. TVS Motor Company Limited

TVS Motor Company is a reputed two and three-wheeler manufacturer globally, championing progress through Sustainable Mobility with four state-of-the-art manufacturing facilities in Hosur, Mysuru and Nalagarh in India and Karawang in Indonesia. TVS Motor has footprints globally, including geographies like Middle East, Africa, SE Asia, Indian subcontinent, Latin & Central America. TVS Motor manufactures the largest range of two-wheelers, starting from mopeds, to scooters, commuter motorcycles, to racing inspired bikes like the TVS Apache series and the TVS Apache RR310.

(Source: Moneycontrol, BSE, Fisdom Research)

Technical Outlook

(Source: Fisdom research)

• TVSMotors concluded last week, almost at fresh all-time high levels, marking a fresh consolidation break-out hurdle of 1200 levels.
• From a technical perspective, the counter can be considered for fresh long trading and delivery bets on dips towards 1120 and 1020 levels.
• Crucial and robust support levels on the lower end are 1000 and 940.
• Immediate hurdle on the higher-end can be at 1200+ levels, which once held, can target the 1450-1500 zone in the next 2-3 months’ time-frame.

Open Interest

(Source: Fisdom research)

• April 2023 Open Interest (OI) for the counter displays maximum CE build-up at around 1200 levels, indicating resistance.
• While on lower end the maximum PE build-up is witnessed at around 1100 strike price which indicated good risk-reward ratio for fresh long bets in days to come.

F&O Strategy

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