Weekly Picks 29th April 2024

1. RAYMOND LTP 2,108

Counter	RAYMOND LTP 2,108
Call	Buy on dip
Target 1	2,225
Target 2	2,325
Stop Loss	1,960
Time Horizon	2-3 weeks
Notes	50% Buy on dip at 2,070

Raymond Ltd specializes in the textile and apparel industry, with operations spanning several divisions including Textile, Real Estate Development, Shirting, Apparel, Garments, Tools and Hardware, Auto Components, and more, which encompass both apparel and non-scheduled airline operations. Its primary revenue stream comes from the textile sector. The company’s brand portfolio includes renowned names like Park Avenue, Raymond, ColorPlus, Parx, and Ethnix, among others.

Previous Close	2,120.40	TTM EPS	241.05
52 Week High	2,240.00	TTM PE	8.74
52 Week Low	1,487.60	P/B	4.85
Sector PE	31.90	Mkt Cap (Rs. Cr.)	14,032

_{^{(Source: Moneycontrol, BSE, Fisdom Research)}}

Technical Outlook

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

RAYMOND gave a technical “Triangle” pattern break-out on the higher-end and prices sustained above the breakout levels on the weekly chart.
The counter on the weekly chart has witnessed a breakout after six months of consolidation with above-average volumes.
The counter is trading above its 21, 50, and 100 Exponential moving averages on the weekly chart confirming its overall performance.
The momentum oscillator RSI (14) has witnessed a horizontal trend line breakout on the weekly scale. The MACD indicator is reading above its line of polarity on the weekly scale.

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2. CDSL LTP 2,119

Counter	CDSL LTP 2,119
Call	Buy on dip
Target 1	2,235
Target 2	2,335
Stop Loss	1,970
Time Horizon	2-3 weeks
Notes	50% Buy on dip at 2,076

Central Depository Services (India) Ltd functions as a securities depository within India, providing dematerialization services for various securities such as equity shares, preference shares, mutual fund units, debt instruments, and government securities. The company is structured into operating business segments, namely Depository Activity, Data Entry and Storage, and Repository, with the Depository Activity segment contributing the highest revenue.

Previous Close	2,151.00	TTM EPS	33.78
52 Week High	2,195.35	TTM PE	62.74
52 Week Low	973.50	P/B	18.25
Sector PE	46.07	Mkt Cap (Rs. Cr.)	22,148

_{^{(Source: Moneycontrol, BSE, Fisdom Research)}}

Technical Outlook

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

CDSL gave a technical “Rectangle” pattern break-out on the higher-end and prices sustained above the breakout levels on the weekly chart.
The counter on the weekly chart has witnessed a breakout after 5 months of consolidation with above-average volumes.
The counter is trading above its 21, 50, and 100 Exponential moving averages on the weekly chart confirming its overall performance.
The momentum oscillator RSI (14) has witnessed a falling channel pattern breakout above 60 levels on the weekly scale. The MACD indicator is reading above its line of polarity on the weekly scale.

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