Weekly Picks 27th March 2023

1. Siemens Ltd

SIEMENS has a wide range of solutions for power transmission and distribution, e-mobility, green hydrogen, storage solutions, factory automation, industrial communication and networking, drivetrain, conveyor technology, industrial energy management and more.

(Source: Moneycontrol, BSE, Fisdom Research)

Technical Outlook

(Source: Fisdom research)

• Siemens has been one of the outperforming counters in the past three years.
• The counter gave a breakout on the higher end after consolidation between the 2600 and 3100 zones from Aug-22 to Jan-23.
• The counter is forming a “higher highs & higher lows” pattern, which is considered bullish.
• Consider buying the counter on dips towards 3200 and below that, while ensuring to maintain a stop-loss of below 3000 or 2900 on a closing basis.
• On the higher end, the counter can target 3400 and the next 3600 levels in the days to come

Open Interest Study

(Source: Fisdom research)

• The March option chain reading for Siemens suggests a range with a positive bias above the strike prices of 2900 and 3100 levels, with hurdles at 3400 and 3500 levels on an immediate basis.
• Overall, a “range to positive” outlook can be interpreted via the open interest (OI) setup in the short term.

F&O Strategy

2. Zee Entertainment Enterprises Limited

Zee Entertainment Enterprises Limited (ZEEL) is a media and entertainment company engaged in providing broadcasting services. The company operates through content and broadcasting segment. The company has a library, housing over 260,000 hours of television content.

(Source: Moneycontrol, BSE, Fisdom Research)

Technical Outlook

(Source: Fisdom Research)

• Zee Ltd was trading at around 200 levels in Mar-2020. In the last three years, the counter made lows of 112 and highs of 350, and is now back to 200 levels.
• The counter has witnessed some fresh buying interest in the last couple of weeks and is up almost 8% this month so far.
• The counter can be considered for trading and delivery buying on dips towards 205 and 190 levels, with the expectation of higher levels of 220 and 260 in the coming weeks.
• The counter has immediate decent support around 180, above which bulls will remain in a commanding position in the short to mid-term time frame.

Open Interest

(Source: Fisdom Research)

• For the March series, Zee Ltd has the maximum call build-up at around 220 and 230 levels, indicating an immediate hurdle, on the other hand 200 and 190/180 levels have maximum PE (put option) build-up.
• Therefore, dips towards 200 levels should be awaited for fresh buying of long bets, while the sustained levels above 220 is the first signal of short covering along with fresh long additions.

F&O Strategy

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