Weekly Picks 26th March 2024

1. CG POWER LTP 535.95

Counter	CG POWER LTP 535.95
Call	Buy on dip
Target 1	562
Target 2	577
Stop Loss	498
Time Horizon	2-3 weeks
Notes	50% Buy on dip near 525

CG Power and Industrial Solutions Limited, formerly recognized as Crompton Greaves Limited, operates as a versatile Indian multinational enterprise specializing in the development, production, and promotion of power generation, transmission, distribution, and Rail Transportation solutions. Situated in Mumbai, it has been integrated into the Murugappa Group since 2020, subsequent to its acquisition from the Avantha Group. Notably, the company underwent a significant restructuring in 2016, post the separation of its consumer goods division.

Previous Close	541.40	TTM EPS	10.60
52 Week High	549.95	TTM PE	50.56
52 Week Low	276.65	P/B	187.40
Sector PE	100.55	Mkt Cap (Rs. Cr.)	81,857

Technical Outlook

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

• CGPOWER gave a technical “Symmetrical triangle” pattern break-out on the higher-end and prices sustained above the breakout levels.
• The counter closed on a firm note this week, forming a tall green candle stick pattern, and has outperformed the Benchmark index on an absolute 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) has taken support near 50 levels. It is connected with a horizontal trend line on the weekly chart 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. HAVELLS LTP 1469

Counter	HAVELLS LTP 1469
Call	Buy on dip
Target 1	1540
Target 2	1575
Stop Loss	1395
Time Horizon	2-3 weeks
Notes	50% Buy on dip near 1455

Havells India Limited stands as a prominent Indian multinational enterprise specializing in electrical equipment, with its headquarters situated in Noida. Initially established by Haveli Ram Gandhi, it was subsequently acquired by Qimat Rai Gupta, who originally served as a distributor for the company. Havells is renowned for manufacturing a diverse array of products, including home appliances, lighting solutions catering to residential, commercial, and industrial sectors, LED lighting, fans, modular switches, wiring accessories, water heaters, circuit protection switchgear for both industrial and domestic use, cables and wires, induction motors, and capacitors, among others. Notably, the company boasts ownership of esteemed brands such as Havells, Lloyd, Crabtree, Standard Electric, Reo, and Promptec.

Previous Close	1485.05	TTM EPS	18.86
52 Week High	1591.35	TTM PE	77.90
52 Week Low	1131.80	P/B	15.33
Sector PE	54.04	Mkt Cap (Rs. Cr.)	92,075

Technical Outlook

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

• HAVELLS on the monthly chart has given a triangle pattern breakout with above-average volumes. After the breakout, prices have completed the throwback near their trend line support and a breakout throwback is completed.
• The counter is trading above all its 21, 50, and 100 WEMA, and the averages are slopped higher. Candlestick prices have formed a spinning top pattern near trend line support.
• The momentum oscillator RSI (14) has also given an inverted head and shoulder pattern breakout above 60 levels suggesting an acceleration in the momentum. The MACD indicator is reading above its line of polarity.

Invest Now

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