Categories: Weekly Pick

Weekly Picks 24th June 2024

1. BANDHAN BANK LTP 208

CounterBANDHAN BANK LTP 208
CallBuy on dip
Target 1223
Target 2230
Stop Loss193
Time Horizon2-3 weeks
Notes50% at dip near 202

Bandhan Bank Ltd offers a comprehensive range of banking services, focusing on micro and general banking through various asset and liability products. The bank operates in four main segments: Treasury (investments in sovereign securities and trading), Retail Banking (loans, liability products, card services, digital banking, ATM, and NRI services), Corporate/Wholesale Banking (corporate relationships), and Other Banking Business (para-banking activities). The majority of the bank’s revenue comes from Retail Banking.

Previous Close208.18TTM EPS13.84
52 Week High263.10TTM PE15.12
52 Week Low169.15P/B1.72
Sector PE19.04Mkt Cap (Rs. Cr.)33,706
(Source: Moneycontrol, BSE, Fisdom Research)

Technical Outlook

(Source: Fisdom research)

  • Rounding pattern breakout on the daily time frame and trend line breakout on the weekly time frame provided by BANDHAN BANK signalled a strong price reversal with above-average volumes.
  • The stock closed above the 100 and 200 DEMA following a brief 20-week price decline. The stock is higher on average, as shown by its trading above most of the DEMA.
  • The momentum indicator, RSI (14) has nearly persisted at the 55 mark after emerging from a rounding pattern formation.  The MACD line crosses over its signal line, indicating a change in momentum.
Invest Now

2. NATCO PHARMA LTP 1,200

CounterNATCO PHARMA LTP 1,200
CallBuy on dip
Target 11,285
Target 21,325
Stop Loss1,115
Time Horizon2-3 weeks
Notes50% at dip near 1,188

Natco Pharma Ltd is a leading drug manufacturing company dedicated to making specialty medicines accessible by producing niche pharmaceutical products supported by robust research and development. While the majority of its revenue comes from India, Natco is expanding internationally to seize growth opportunities. The company has a strong presence in the Oncology and Hepatology treatment areas, with its active pharmaceutical ingredient (API) segment being central to its business. Natco operates in two main segments: pharmaceuticals and agrochemicals. Within the pharmaceutical segment, sales are driven by Finished Dosage Forms and Active Pharmaceutical Ingredients.

Previous Close1,174.30TTM EPS77.51
52 Week High1,259.45TTM PE15.49
52 Week Low621.00P/B5.34
Sector PE40.95Mkt Cap (Rs. Cr.)21,504
(Source: Moneycontrol, BSE, Fisdom Research)

Technical Outlook

(Source: Fisdom research)

  • NATCO PHARMA ended above 1150 levels, indicating a bullish breakout, and confirmed a 7-year consolidation breakout.
  • The fact that the stock is trading above the 10, 20, and 50 DEMA validates the general bullish outlook.
  • The weekly trendline of the momentum indicator, RSI (14) has broken out, forming a double bottom pattern with a base near the 57 mark.
  • The MACD is rising and holding above its polarity, suggesting that the general outlook is positive.
Invest Now

Disclaimer: This document is not intended for anyone other than the recipient. The contents of this document may not be reproduced or further distributed to any person or entity, whether in whole or in part, for any purpose. If you have received the publication in error please notify the sender immediately. If you are not the named addressee, you should not disseminate, distribute or copy this document. You are hereby notified that disclosing, copying, distributing or taking any action in reliance on the contents of this information is strictly prohibited. All non-authorised reproduction or use of this document will be the responsibility of the user and may lead to legal proceedings. This document has no contractual value and is not and should not be construed as advice or as an offer or the solicitation of an offer or a recommendation to take action in consonance in any jurisdiction. Finwizard Technology Private Limited (“Fisdom”) makes no guarantee, representation or warranty and accepts no responsibility or liability for the accuracy or completeness of the information and/or opinions contained in this document, including any third party information obtained from sources it believes to be reliable but which has not been independently verified. In no event will Fisdom be liable for any damages, losses or liabilities including without limitation, direct or indirect, special, incidental, consequential damages, losses or liabilities, in connection with your use of this document or your reliance on or use or inability to use the information contained in this document, even if you advise us of the possibility of such damages, losses or expenses. Fisdom does not undertake any obligation to issue any further publications or update the contents of this document. The information stated and/or opinion(s) expressed herein are expressed solely as general commentary for general information purposes only and do not constitute advice, solicitation or recommendation to act upon thereof. Fisdom does not have regard to specific investment objectives, financial situation and the particular needs of any specific person who may receive this document. The information contained within this document has not been reviewed in the light of your personal circumstances. Please note that this information is neither intended to aid in decision making for legal, financial or other consulting questions, nor should it be the basis of any investment or other decisions. Fisdom may have issued other similar documents that are inconsistent with and reach different conclusion from the information presented in this document. The relevant offering documents should be read for further details. You should make such researches/inspections/inquiries as it deems necessary to arrive at an independent evaluation of companies referred to in this document (including the merits and risks involved), and should consult its own advisors to determine the merits and risks involved. Fisdom makes no representations that the offerings mentioned in this document are available to persons of any other country or are necessarily suitable for any particular person or appropriate in accordance with their local law. Among other things, this means that the disclosures set forth in this document may not conform to rules of the regulatory bodies of any other country and investment in the offer discussed will not afford the protection offered by the local regulatory regime in any other country. Past performance contained in this document is not a reliable indicator of future performance whilst any forecasts, projections and simulations contained herein should not be relied upon as an indication of future results. The historical performance presented in this document is not indicative of and should not be construed as being indicative of or otherwise used as a proxy for future or specific investments. The relevant product documents should be read for further details. Fisdom does not undertake any obligation to issue any further publications to you or update the contents of this document and such contents are subject to changes at anytime.

Fisdom Research

Share
Published by
Fisdom Research
Tags: Weekly Picks

Recent Posts

Diwali Picks 2024

This Diwali, we present a portfolio that reflect both sector-specific and stock-specific opportunities. With 2…

2 months ago

Expert Recommended Stocks

Thank you for showing interest in taking a BTST position using our Delivery Plus product.…

6 months ago

Congratulations! Your FREE session with our expert is confirmed.

Thank you for showing interest in the consultation on trading strategies! Our expert will reach…

8 months ago

How to sell shares of unlisted companies?

Even if you are a new participant in the stock market, the process of buying…

1 year ago

Interest Coverage Ratio – Meaning, Types, Interpretation & Importance

A company’s debt position can be gauged using the interest coverage ratio or ICR. This…

1 year ago

Muhurat trading timings 2023-24: Indian stock exchanges

Muhurat Trading, a cherished tradition in the Indian stock market, takes place on Diwali, the…

1 year ago