Weekly Stock Picks – 21st Nov 2022

Balkrishna Industries Ltd.

Headquartered in Mumbai India Balkrishna Industries Limited (BKT) is engaged in the business of manufacturing and selling of Off-Highway Tyres (OHT) in the specialist segments such as Agricultural Industrial & Construction Earthmovers & Port Mining Forestry Lawn & Garden and All-Terrain Vehicles (ATV) Tires.

Entry Level: ₹1900 – ₹1920	Stop loss: ₹1750
1st target: ₹2100	Time Horizon: 2 weeks
2nd Target: ₹2300	Time Horizon: 1 month

Quick Check

Open	1,978.00	TTM EPS	72.58(-1.66% YoY)
Previous Close	1,978.35	TTM PE	27.18(Average PE)
Volume	1,99,730	P/B	5.51(Average P/B)
Value (Lacs)	3,940.17	Face Value	2
VWAP	1,974.43	Mkt Cap (Rs. Cr.)	38,136
Beta	0.94	Dividend Yield	1.42
High	1,985.50	20D Avg Volume	3,92,797
Low	1,957.95	20D Avg Delivery(%)	30.24
UC Limit	2,176.15	Sector PE	40.34
LC Limit	1,780.55	Book Value Per Share	358.63
52 Week High	2,537.45
52 Week Low	1,690.55

Technical Outlook

BALKRISIND FUT LTP 1971 gave a “bullish engulfing” weekly closing above 1900 levels
Counter can be looked for fresh trading long bets on dips towards 1900
On higher-end, the counter can attempt towards 2100 & mid-term strong resistance of 2300 in weeks to come
Major break-out will be expected only above 2300 levels (above falling trend-line resistance)

Open Interest

BALKRISHIND open interest “tug-of-war” level is at around 2000 with immediate and decent support at around 1900 levels.
Short-covering will be expected after holding above 2000

Invest Now

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ABB India Ltd.

Entry Level: ₹3000 – ₹3040	Stop loss: ₹2850
Target: ₹3300	Time Horizon: 2-3 weeks

ABB India Ltd (Formerly Known as ABB Ltd) is one of the world’s leading engineering companies which helps customers to use electrical power effectively and to increase industrial productivity in a sustainable way. The Company has extensive installed base for manufacturing and a countrywide marketing and service presence.

Quick Check

Open	3,125.00	TTM EPS	42.43(+131.09% YoY)
Previous Close	3,122.20	TTM PE	72.89(Low PE)
Volume	4,85,570	P/B	16.21(High P/B)
Value (Lacs)	15,016.98	Face Value	2
VWAP	3,113.94	Mkt Cap (Rs. Cr.)	65,535
Beta	0.63	Dividend Yield	0.17
High	3,158.25	20D Avg Volume	3,66,462
Low	3,062.75	20D Avg Delivery(%)	44.17
UC Limit	3,434.40	Sector PE	51.79
LC Limit	2,810.00	Book Value Per Share	190.89
52 Week High	3,446.30
52 Week Low	1,944.60

Technical Outlook

ABB FUT LTP 3098

ABB holds trading longs bias above its immediate supports of 3000 & major 2850 levels
On the higher-end, the counter can once again attempt towards 3300 levels
3300 odd levels is crucial mid-term resistance above which the counter will open for 3500+ levels in months to come