Weekly Picks 26th December 2023

1. TCS LTP 3825.30

Counter	TCS LTP 3825.3
Call	Buy on dip
Target 1	4,000
Target 2	–
Stop Loss	3,720
Time Horizon	3-4 weeks
Notes	—

TCS is an IT services, consulting and business solutions organization that has been partnering with many of the world’s largest businesses in their transformation journeys for over 50 years. In FY 2023, the company delivered revenue of ₹225,458 crore, a growth of 17.6%. This growth has come at an industry-leading operating margin of 24.1%. TCS continues to play a crucial role with clients to enable their business transformation, helping them accelerate new technology adoption and bring agility into execution.

Previous Close	3787.5	TTM EPS	122.04
52 Week High	3929.9	TTM PE	31.33
52 Week Low	3005.1	P/B	15.6
Sector PE	34.7	Mkt Cap (Rs. Cr.)	13,99,221

(Source: Moneycontrol, BSE, Fisdom Research)

Technical Outlook

(Source: Fisdom Research)

TCS is on the verge of giving a consolidation break-out above 3800 levels for the following 4200 & higher levels in weeks to come. Overall, the technical bias remains “Buy-On-Dip” in TCS in weeks to come.
As per the price study, the counter immediate support is at around 3720 & significant 3580 levels, while the higher-end potential target cum immediate resistance cum target can be at around 4000 levels.
Last two years, higher band cum resistance is between the 3800-4000 zone while significant support is at around 3400 levels for the next few months to come with a Buy-On-Dip outlook.

Open Interest Study

As per the Option Chain Study, the counter has maximum CE build-up at 4000 & 4200 Strike Rates while maximum PE build-up is at 3600 & 3700 Strikes, which indicates that dips toward support levels can attract fresh buying interest.

F&O Strategy

Scrip	TCS LTP 3825.30
Risk	Moderate
Ratio	1:1

Action	Scrip	Quantity	Entry Price	LTP
BUY	TCS JAN 3800 CE	175	150.05	150.05
SELL	TCS JAN 4200 CE	175	32.0	32.0

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2. BEL LTP 174.9

Counter	BEL LTP 174.9
Call	Buy on dip
Target 1	185
Target 2	200
Stop Loss	160
Time Horizon	3-4 weeks
Notes	—

Bharat Electronics Limited (BEL) is a Navratna PSU under the Ministry of Defence, Government of India. It manufactures state-of-the-art electronic products and systems for the Army, Navy and the Air Force. BEL has also diversified into various areas like homeland security solutions, smart cities, e-governance solutions, space electronics including satellite integration, energy storage products including e-vehicle charging stations, solar, network & cyber security, railways & metro solutions, airport solutions, Electronic Voting Machines, telecom products, passive night vision devices, medical electronics, composites and software solutions.

Previous Close	170.7	TTM EPS	4.6
52 Week High	176.3	TTM PE	38.4
52 Week Low	87.0	P/B	3.5
Sector PE	54.8	Mkt Cap (Rs. Cr.)	127,774

(Source: Moneycontrol, BSE, Fisdom Research)

Technical Outlook

(Source: Fisdom Research)

The counter, though trading in the “Over-Bought” zone with a weekly RSI at 79.29 levels, the significant momentum remains “Range to UP”, holding above 160 and major positional 140 levels.
On the higher end, the counter in the short to mid-term can attempt towards 185 & significant positional resistance of 200 levels. In the short to mid-term, support is at around 160 levels.
in the future, In the short-term, one can look for a “Buy-On-Dip” outlook above 160 levels for mentioned 185 & major 200 levels in the next few weeks.

Open Interest

Dec series major CE build-up is at 175 & 180 CE while maximum PE is at 160/ 170 Strikes. This indicates that fresh buying should be looked at on dips only, or “Bull Ratio Spread” can be looked at for Jan-series as per Risk-Appetite.

F&O Strategy

Scrip	BEL LTP 174.9
Risk	Moderate
Ratio	1:2

Action	Scrip	QTY	Entry Price	LTP
BUY	BEL JAN 170 CE	5700	12.85	12.85
SELL	BEL JAN 190 CE	5700	4.8	4.8

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