1. Housing Development Finance Corporation Ltd
| Counter | HDFC LTP 2723.15 |
| Call | Buy on dip |
| Target 1 | 2800 |
| Target 2 | 2880 |
| Stop Loss | 2600 |
| Time Horizon | 3-4 weeks |
| Notes | Buy-on-dip towards 2680 & 2620 |
The Housing Development Finance Corporation (HDFC) Limited is a name that has been associated with the Indian housing sector for the last four decades. As pioneers in housing mortgages, it is a brand name that has been characterised by trust, solidity, both financial and managerial and sound principles. Since the day of its incorporation in 1977, HDFC has defined and set high standards in the housing finance sector.
| Previous Close | 2715.9 | TTM EPS | 141.5 |
| 52 Week High | 2867.0 | TTM PE | 19.2 |
| 52 Week Low | 2026.0 | P/B | 2.6 |
| Sector PE | 19.8 | Mkt Cap (Rs. Cr.) | 503,318 |
(Source: Moneycontrol, BSE, Fisdom Research)
Technical Outlook
(Source: Fisdom research)
- The stock has seen consolidation between 2500 and 2800 levels since November 2022 (as of November 18, 2022, it was at 2723 points).
- Last week, HDFC Ltd reached its highest closing point in five weeks, indicating higher levels.
- From a technical perspective, if the stock stays above 2640 points, it could potentially rise to 2840 points and then even to 2940 points.
Open Interest Study
(Source: Fisdom research)
- For the June expiration, the 2600 strike price shows strong support for the stock.
- The 2700 strike price is a contested level, with resistance around 2740 and 2800 according to the open interest setup.
- The outlook suggests buy on dips above 2600 levels.
F&O Strategy
| Scrip | HDFC LTP 2723.15 |
| Risk | Moderate |
| Ratio | 1:1 |
| Bias | Range to positive |
| Max Reward Expected | ₹10,695 |
| Max Risk Expected | ₹ 7,305 |
| Action | Scrip | QTY | IP | LTP |
| BUY | HDFC JUL 2700 CE | 300 | 31.4 | 31.4 |
| SELL | HDFC JUL 2760 CE | 300 | 7.05 | 7.05 |
|
2. Piramal Enterprises Ltd
| Counter | PEL LTP 882.55 |
| Call | Buy on dip |
| Target 1 | 960 |
| Target 2 | 1080 |
| Stop Loss | 780 |
| Time Horizon | 3-4 weeks |
| Notes | Buy-On-Dip towards 840 & 820 |
Piramal Enterprises Limited (PEL) is one of India’s leading diversified non-banking financial companies (NBFC) with assets worth ~$10 billion, with a network of over 300 branches across 25 states/Union Territories, offering a wide range of financial products and solutions across retail and wholesale lending, fund-based platforms and investments
| Previous Close | 928.9 | TTM EPS | 96.8 |
| 52 Week High | 2084.1 | TTM PE | 9.1 |
| 52 Week Low | 630.5 | P/B | 0.6 |
| Sector PE | 24.3 | Mkt Cap (Rs. Cr.) | 21,056 |
(Source: Moneycontrol, BSE, Fisdom Research)
Technical Outlook
(Source: Fisdom Research)
- Last week, PEL closed strongly above the 880 point mark.
- Technically, PEL has immediate support around 880 and 840 points, with a significant support level at 780 points.
- On the higher end, 960, 1020, and 1140 points are the resistance levels that we might see in the coming weeks.
Open Interest
(Source: Fisdom Research)
- PEL Jun Highest PE Open Interest is at 850 Strike Price which should act as support for the counter.
- While on the higher end 900 is immediate mild resistance followed by next higher 950 levels.
- The counter can be looked for fresh longs on dip or Long Hedged Strategy.
F&O Strategy
| Scrip | PEL LTP 882.55 |
| Risk | Moderate |
| Ratio | 1:2 |
| Bias | Range to positive |
| Max Reward Expected | ₹ 46,963 |
| Max Risk Expected | ₹ 8,058 |
| Action | Scrip | QTY | IP | LTP |
| BUY | PEL JUL 900 CE | 550 | 37.15 | 37.15 |
| SELL | PEL JUL 1000 CE | 1100 | 11.25 | 11.25 |
|
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