Weekly Picks 18th March 2024

1. PIDILITIND LTP 2868

Counter	PIDILITIND LTP 2868
Call	Buy on dip
Target 1	3000
Target 2	3150
Stop Loss	2685
Time Horizon	2-3 weeks
Notes	Buy on dip around 2840 & 2800

Pidilite have been pioneering products for small to large applications, at home and industry, which have forged strong bonds with people from all walks of life. From adhesives, sealants, waterproofing solutions and construction chemicals to arts & crafts, industrial resins, polymers and more, their product portfolio is as diverse as it is ever-evolving. Brands are trusted household and industrial names, and they are the market leader in adhesives. A robust and growing network makes their products accessible across demographics and geographies.

Previous Close	2861.00	TTM EPS	33.66
52 Week High	2962.70	TTM PE	85.20
52 Week Low	2281.00	P/B	20.23
Sector PE	57.05	Mkt Cap (Rs. Cr.)	1,45,869

Technical Outlook

^{_{(Source: Fisdom research)}}

• PIDILITE IND gave a technical “Rectangle” pattern break-out on the higher-end and prices sustained above the breakout levels.
• The counter closed on a firm note last week, forming a Doji candle stick pattern, and has outperformed the Benchmark index on a relative basis.
• The counter is trading above its 21, 50, and 100 EMA on the weekly chart confirming its overall performance.
• The momentum oscillator RSI (14) is reading in a higher low formation above 65 levels with a bullish crossover and the MACD indicator is reading above its line of polarity on the weekly scale.

Invest Now

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2. INDIGO LTP 3203.35

Counter	INDIGO LTP 3203.35
Call	Buy on dip
Target 1	3400
Target 2	3650
Stop Loss	2930
Time Horizon	2-3 weeks
Notes	Buy on dip around 3168 & 3150

Interglobe Aviation is the most preferred passenger airline and amongst the fastest growing airlines in the world. They have a simple philosophy: offer fares that are affordable, flights that are on time, and provide a courteous and hassle-free travel experience across our unparalleled network.

With a fleet of over 358 aircraft and growing, they connect people across the globe to a network of over 118 destinations worldwide. Through more than 2000+ daily flights and an industry leading on-time performance, they offer a simple yet well executed and hassle-free product.

Previous Close	3176	TTM EPS	186.46
52 Week High	3317.00	TTM PE	17.18
52 Week Low	1810.65	P/B	—
Sector PE	107.14	Mkt Cap (Rs. Cr.)	1,23,632

Technical Outlook

_{^{(Source: Fisdom research)}}

• INDIGO on the weekly chart is trading in a higher high higher low formation suggesting a structural bullish trend in the counter.
• Recently the counter has witnessed a horizontal trend line breakout and has outperformed the Benchmark index on an absolute basis.
• The momentum oscillator RSI (14) is reading in a bullish range shift zone and consistently finds support near 60 levels. The MACD indicator is reading above its line of polarity on the weekly scale.
• The prices are closely following its 21 EMA and are acting as an anchor point support for the counter.

Invest Now

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