Categories: Weekly Pick

Weekly Picks 30th September 2024

1. JKCMENT LTP 4,639

Counter JKCMENT LTP 4,639
Call Buy on dip
Target 1 4,963
Target 2 5,060
Stop Loss 4,315 (Closing Basis)
Time Horizon 2-3 weeks

  J.K. Cement Limited produces grey and white cement, along with waterproof products. It operates two grey cement plants in Rajasthan, manufacturing OPC (in 33, 43, and 53 grades) and PPC. Key brands include J.K. Cement, Sarvashaktiman (OPC), and J.K. Super (PPC). The company also offers J.K. White and Camel for white cement. Additionally, it operates thermal and waste heat recovery power plants. In FY 2012, J.K. Cement produced 3.77 lakh tons of white cement and 5.32 million tons of grey cement.  

Previous Close 4,582.20 TTM EPS 112.14
52 Week High 4,895.50 TTM PE 41.34
52 Week Low 3,052.65 P/B 6.68
Sector PE 54.87 Mkt Cap (Rs. Cr.) 35,823

(Source: Moneycontrol, BSE, Fisdom Research)

Technical Outlook

  • JKCEMENT has given an Inverted Head & Shoulder pattern breakout on the weekly chart and prices are sustaining above the neckline of the pattern.
  • Stock has shown above-average volumes at breakout indicating a confirmed breakout.
  • Momentum Indicator RSI (14) has given a consolidation breakout above 60 levels with a bullish crossover on the cards.
  • Stock has been trading above 50 EMA on the weekly chart maintaining the bullish momentum.
  • The Higher High Higher low pattern still exists on the broader time frame.
  • The MACD indicator is reading with a bullish crossover and has sustained above its polarity levels.
Invest Now

2. WESTLIFE DEVELOPMENT LTP 930

Counter WESTLIFE DEVELOPMENT LTP 930
Call Buy on dip
Target 1 1,000
Target 2 1,025
Stop Loss 860 (Closing Basis)
Time Horizon 2-3 weeks

  Incorporated in 1932, Western Securities Limited is a private real estate holding, management, and development company. It is a leading mobilizer of fixed deposits for reputed companies and markets mutual fund schemes from top fund houses like TATA, Birla, SBI, and HDFC. With a network of clients and sub-brokers, the company operates from its Mumbai head office and branches in Ahmedabad, Baroda, Borivali, Navsari, and Thane. Its parent company, Western Press Private Limited, specializes in financial services stationery printing and held a 90% market share in 2009.  

Previous Close 876.70 TTM EPS 2.80
52 Week High 1,000 TTM PE 332.30
52 Week Low 708.95 P/B 24.67
Sector PE 77.69 Mkt Cap (Rs. Cr.) 14,509

(Source: Moneycontrol, BSE, Fisdom Research)

Technical Outlook

  • WESTLIFE DEVELOPMENT has given a downward slanting channel pattern breakout on the weekly chart and prices are sustaining above the resistance line of the pattern.
  • The volumes have too given a breakout on the broader time frame suggesting a combination of price volume breakout.
  • Momentum Indicator RSI (14) has given a trend line breakout above 60 levels with a bullish crossover on the cards.
  • Stock has been trading above 50 EMA on the weekly chart maintaining the bullish momentum.
  • The MACD indicator is reading with a bullish crossover and has sustained above its polarity levels.
Invest Now

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