1. GLENMARK
| Counter | GLENMARK LTP 854 |
| Call | 50% at dip near 807 |
| Target 1 | 1100 |
| Target 2 | 1150 |
| Stop Loss | 645 |
| Time Horizon | 1 Year |
| Notes | — |
Glenmark is focused on developing and marketing branded and generic formulations. Their formulations business spans across various geographies primarily the US, India, Europe, Latin America and Rest of the World. They focus on manufacturing niche products across therapeutic areas of dermatology, respiratory and oncology. They have 14 manufacturing facilities across India, the US, Argentina and Czech Republic. These facilities are inspected by various regulatory bodies, including the US-FDA, MHRA UK, SUKUL-CZ, RU-GMP Russia, TGA Australia, WHO GMP, TPD Canada, MCC South Africa and ANVISA Brazil. Being a research-driven organization, they have also invested in dedicated R&D centers for global markets.
| Previous Close | 855.4 | TTM EPS | 0 |
| 52 Week High | 880.0 | TTM PE | — |
| 52 Week Low | 369.5 | P/B | 2.55 |
| Sector PE | 49.1 | Mkt Cap (Rs. Cr.) | 24,095 |
(Source: Moneycontrol, BSE, Fisdom Research)
Technical Outlook
(Source: Fisdom Research)
- GLENMARK, on the monthly chart, has been trading in an inverted head and shoulder formation for the past 6 years and has formed base support near 450 – 400 levels.
- The counter has witnessed a multi-year breakout of an inverted head and shoulder pattern. Prices have moved above their neckline resistance, placed at 650 levels.
- The counter is trending above the golden cross on the monthly chart. Technically, the bullish crossover of 21EMA over 50EMA is known as the ‘golden cross’ – the medium to long-term bullish trend. The momentum oscillator RSI (14) has given a trend line breakout above 65 levels with a bullish crossover on the cards.
- Post-breakout prices have retested the neckline levels and are sustaining above the upper band of the pattern.
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2. ORIENTCEM
| Counter | ORIENTCEM LTP 251 |
| Call | 50% at Dip near 235 |
| Target 1 | 305 |
| Target 2 | 340 |
| Stop Loss | 190 |
| Time Horizon | 1 Year |
| Notes | — |
Orient Cement started commercial production at its integrated cement plant located at Chittapur, Gulbarga, Karnataka. With a total capacity of 8.5 MTPA, they serve Maharashtra, Telangana, Andhra Pradesh, Karnataka and parts of Madhya Pradesh, Tamil Nadu, Kerala, Gujarat and Chhattisgarh. Orient Cement’s products are produced at the technologically advanced manufacturing facilities. With the help of equipment sourced from only the world’s best manufacturers like L&T, CIMMCO, FLSmidth and KHD, the entire cement manufacturing process is monitored & controlled centrally from a state-of-the-art central control room to fine tune and ensure quality output.
| Previous Close | 248.5 | TTM EPS | 7.64 |
| 52 Week High | 262.9 | TTM PE | 32.9 |
| 52 Week Low | 104.6 | P/B | 3.2 |
| Sector PE | 55.45 | Mkt Cap (Rs. Cr.) | 5,144 |
(Source: Moneycontrol, BSE, Fisdom Research)
Technical Outlook
(Source: Fisdom Research)
- ORIENTCEM recently exhibited a breakout on its monthly chart, accompanied by a substantial surge in trading volumes. An inverted head and shoulder pattern characterize this breakout, and the stock prices have effectively maintained their position above the neckline of this pattern. This signals a probable extension of the preceding upward trend following a breakout.
- An array of indicators and oscillators about the stock is aligning to suggest an attractive “buy-on-dips” opportunity. These metrics consistently read above the polarity levels and have given a trend line breakout reaffirming the prevailing bullish sentiment.
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3. L&TFH
| Counter | L&TFH LTP 165 |
| Call | 50% at Dip near 147 |
| Target 1 | 210 |
| Target 2 | 235 |
| Stop Loss | 125 |
| Time Horizon | 1 Year |
| Notes | — |
L&T Finance Holdings Ltd. is one of the leading Non-Banking Financial Companies (NBFCs) in India, with a strong presence across the lending business catering to the diverse financing needs of served and underserved customers. Through its entity L&T Finance Holdings., it offers Personal loans, Two-Wheeler loans, Home loans, Micro loans, Farm loans, and SME loans. At L&T Finance, we are committed to providing customised financial solutions that meet the unique needs of our customers. With a focus on innovation and customer-centricity, we aim to be a trusted partner in our customers’ financial journey.
| Previous Close | 162.2 | TTM EPS | 8.4 |
| 52 Week High | 166.2 | TTM PE | 19.7 |
| 52 Week Low | 78.9 | P/B | 1.9 |
| Sector PE | 30.7 | Mkt Cap (Rs. Cr.) | 41,057 |
(Source: Moneycontrol, BSE, Fisdom Research)
Technical Outlook
(Source: Fisdom Research)
- L&TFH has recently broken out of an ascending triangle pattern with solid volumes on the monthly chart, indicating a bullish trend.
- A golden cross has formed as the 21-month exponential moving average crossed above the 50-month average, and the RSI (14) shows a range pattern breakout above 60 levels with a bullish crossover on the cards.
- The MACD indicator also signals a bullish trend as reading above its polarity line.
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4. ITC
| Counter | ITC LTP 462 |
| Call | 50% at Dip near 443 |
| Target 1 | 515 |
| Target 2 | 540 |
| Stop Loss | 415 |
| Time Horizon | 1 Year |
| Notes | — |
ITC is one of India’s foremost private sector companies and a diversified conglomerate with businesses spanning Fast Moving Consumer Goods, Hotels, Paperboards and Packaging, Agri Business and Information Technology. The Company is acknowledged as one of India’s most valuable business corporations with a Gross Revenue of ₹ 69,481 crores and Net Profit of ₹ 18,753.31 crores (as on 31.03.2023). ITC was ranked as India’s most admired company, according to a survey conducted by Fortune India, in association with Hay Group.
| Previous Close | 464.1 | TTM EPS | 16.2 |
| 52 Week High | 499.7 | TTM PE | 28.6 |
| 52 Week Low | 326.0 | P/B | 8.3 |
| Sector PE | 30.6 | Mkt Cap (Rs. Cr.) | 576,497 |
(Source: Moneycontrol, BSE, Fisdom Research)
Technical Outlook
(Source: Fisdom Research)
- ITC, on the broader time frame, is trading in a higher high or low formation and consistently sustaining above its medium and long-term averages. ITC has witnessed a bullish flag pattern breakout on the monthly chart after a time-wise correction.
- The momentum oscillator RSI (14) on the lower panel reads in a higher, higher, and lower formation and in a bullish range shift zone. The MACD indicator is reading above its line of polarity.
- The counter has given a rectangle pattern breakout on the weekly chart, confirming a double price breakout.
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5. IRCTC
| Counter | IRCTC LTP 887.5 |
| Call | 50% at Dip near 820 |
| Target 1 | 1000 |
| Target 2 | 1100 |
| Stop Loss | 720 |
| Time Horizon | 1 Year |
| Notes | — |
Indian Railway Catering and Tourism Corporation Ltd. (IRCTC) is a “Mini Ratna (Category-I)” Central Public Sector Enterprise under Ministry of Railways, Government of India. IRCTC was incorporated on 27th September, 1999 as an extended arm of the Indian Railways to upgrade, professionalize and manage the catering and hospitality services at stations, on trains and other locations and to promote domestic and international tourism through development of budget hotels, special tour packages, information & commercial publicity and global reservation systems. The authorized capital of the company is 250 crores and paid up capital is 160 crores. It’s registered and Corporate Office is situated at New Delhi.
| Previous Close | 864.2 | TTM EPS | 13.3 |
| 52 Week High | 916.5 | TTM PE | 66.9 |
| 52 Week Low | 557.1 | P/B | 28.7 |
| Sector PE | 65.3 | Mkt Cap (Rs. Cr.) | 71,000 |
(Source: Moneycontrol, BSE, Fisdom Research)
Technical Outlook
(Source: Fisdom Research)
- IRCTC, on the monthly chart, has witnessed a rectangle pattern breakout, and prices are trading above the upper band of the range.
- The stock has given a range pattern breakout on the weekly time frame, further confirming the longer-term trend.
- Stock is trading above its 21, 50, and 100–week exponential moving average, which adds strength to the current momentum.
- The momentum oscillator RSI (14) has given a trend line breakout above 60 levels, then reads higher with a bullish crossover. The MACD indicator is reading above its polarity line with a positive crossover.
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