Categories: Weekly Pick

Weekly Picks 18th June 2024

1. IGL LTP 481

CounterIGL LTP 481
CallBuy on dip
Target 1507
Target 2519
Stop Loss455
Time Horizon2-3 weeks
Notes50% at dip near 475

Indraprastha Gas Ltd distributes Compressed Natural Gas (CNG) and Piped Natural Gas (PNG) to domestic, transport, and commercial consumers in Delhi. The company also supplies Re-gassified Liquid Natural Gas (R-LNG) to 16 industrial clients and is actively seeking new gas supply sources to expand this segment.

Previous Close487.05TTM EPS28.34
52 Week High501TTM PE17.03
52 Week Low375.70P/B4.45
Sector PE27.74Mkt Cap (Rs. Cr.)33,782
(Source: Moneycontrol, BSE, Fisdom Research)

Technical Outlook

(Source: Fisdom research)

  • IGL broke away from the 33-week consolidation zone.
  • On a weekly timeframe, IGL has given a symmetrical triangle formation breakout.
  • Momentum indicator RSI (14) has formed base support near 45 levels and has witnessed a trend line breakout above 55 levels with a bullish crossover.
  • The stock is trading above 21 and 50 EMA with a bullish golden cross on the weekly time frame.
  • MACD line is above the signal line, indicating that positive momentum will continue.
Invest Now

2. VBL LTP 1,640

CounterVBL LTP 1,640
CallBuy on dip
Target 11,740
Target 21,790
Stop Loss1,520
Time Horizon2-3 weeks
Notes50% at dip near 1,620

Varun Beverages Ltd manufactures, sells, bottles, and distributes Pepsi-branded beverages in designated territories, including India, Sri Lanka, Nepal, Zambia, Morocco, and Zimbabwe. Its product lineup features brands like Seven-Up, Mountain Dew, Mirinda, Nimbooz, and Tropicana Slice. The majority of the company’s revenue comes from its operations in India.

Previous Close1,578.55TTM EPS16.65
52 Week High1,650.0TTM PE98.45
52 Week Low755P/B29.25
Sector PE82.67Mkt Cap (Rs. Cr.)2,13,008
(Source: Moneycontrol, BSE, Fisdom Research)

Technical Outlook

(Source: Fisdom research)

  • VBL witnessed a breakout from a 19-week consolidation zone on the weekly time frame.
  • On a weekly timeframe, VBL has given a triangle formation breakout and a close above 1600 has confirmed the bullish breakout pattern.
  • Momentum indicator RSI (14) has given a falling wedge pattern breakout above 65 levels with a bullish crossover on the cards.
  • The stock is trading above 21 and 50 EMA on the weekly time frame.
  • MACD line is above the signal line, indicating that positive momentum will continue.
Invest Now

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