Weekly Picks 8th April 2024

1. M&MFIN LTP 298.50

Counter	M&MFIN LTP 298.50
Call	Buy on dip
Target 1	317
Target 2	330
Stop Loss	280
Time Horizon	2-3 weeks
Notes	50% Buy on dip near 292.50

Mahindra & Mahindra Financial Services Limited (MMFSL), a subsidiary of Mahindra & Mahindra Limited (M&M), offers a wide range of financial services in India. These include vehicle loans, refinancing, housing finance, SME financing, personal loans, fixed deposits, mutual fund distribution, insurance broking, and more. With operations across 600 branches, MMFSL provides financing for various vehicles and equipment, including pre-owned vehicles. Through its subsidiary Mahindra Insurance Brokers Ltd. (MIBL), it also offers insurance solutions for retail and corporate clients.

Previous Close	294.10	TTM EPS	15.73
52 Week High	346.55	TTM PE	18.98
52 Week Low	236.50	P/B	2.00
Sector PE	32.92	Mkt Cap (Rs. Cr.)	36,880

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

Technical Outlook

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

M&MFIN gave a technical “falling channel” pattern break-out on the higher-end and prices sustained above the breakout levels on the daily chart.
The counter on the weekly chart is witnessing a symmetrical triangle pattern breakout and prices have crossed the upper band of the pattern.
The counter is trading above its 9, 21, and 50 Exponential moving averages on the daily chart confirming its overall performance.
The momentum oscillator RSI (14) has given a trend line breakout above 60 levels with a bullish crossover on the daily chart. The MACD indicator is reading above its line of polarity on the daily scale.

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2. COROMANDEL INTERNATION LTP 1,161

Counter	COROMANDEL INTERNATION LTP 1,161
Call	Buy on dip
Target 1	1,210
Target 2	1,255
Stop Loss	1,100
Time Horizon	2-3 weeks
Notes	50% Buy on dip near 1,140

Coromandel International Ltd specializes in manufacturing fertilizers, plant protection chemicals, and specialty nutrients. The company also markets phosphogypsum and sulphur pastilles, and it is exploring business opportunities in Latin America. Additionally, it has expanded into the retail sector, focusing on agriculture and lifestyle products. In its pursuit of becoming a comprehensive plant nutrition solutions provider, Coromandel International has introduced a range of Specialty Nutrient products such as Organic Fertilizers, bentonite sulphur, water-soluble fertilizers, and micronutrients.

Previous Close	1,145.05	TTM EPS	58.70
52 Week High	1,271.55	TTM PE	19.79
52 Week Low	874.10	P/B	4.33
Sector PE	16.29	Mkt Cap (Rs. Cr.)	34,196

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

Technical Outlook

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

COROMANDEL gave a technical “triangle” pattern break-out on the higher-end and prices have closed above the upper band of the triangle pattern.
The counter on the daily chart is witnessing a rectangle pattern breakout and prices have crossed the upper band of the pattern.
The stock on the broader timeframe is trading in a higher high higher low formation.
The counter is trading above its 9, 21, and 50 EMA on the daily chart confirming its overall performance with the Golden Cross.
The momentum oscillator RSI (14) has given a consolidation breakout above 50 levels with a bullish crossover on the weekly chart.

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