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January 01, 2024
- ➢ As the market hit a new high astute traders began shorting in the belief that the market has risen much and broad market indicators displayed weakness. But as per a veteran marketman, this improved the market’s health as more shorts are created with each rise giving a new lifeline to the market. Hedge shorts will persist at every level till the Union Budget but stock specific rally will continue. However, stay away from penny stocks that are over owned and where promoters are sellers.
- ➢ Past data indicates that January is usually bearish. Therefore, it will be interesting to watch if January 24 after making new top, crashes or not? Since Nifty’s current RSI is 71, it is likely to give strong resistance to a big correction, unless some shock emerges in India or overseas.
- ➢ Anupam Rasayan featured under Special Focus in October has been promoted to the NSE Small Cap Top 50 index stocks from 1st January 2024. This is sure to give wings to the scrip as both investment and trading volumes expand.
- ➢ Shilp Gravures notched Q2 EPS of Rs.5.5 and Rs. 11.7 in H1, which may lead to Rs.22+. Add for 25% gains.
- ➢ The Anup Engineering notched 69% higher Q2 EPS of Rs.21.9 and 122% higher H1 EPS of Rs.40.3, which may lead to FY24 EPS of Rs.90. Buy for 30% gains.
- ➢ Bank of India notched 76% higher Q2 EPS of Rs.3.7 and 139% higher H1 EPS of Rs.7.5, which may lead to FY24 EPS of Rs.16 from Rs.9.4 in FY23. Add.
- ➢ A series of Abakkus funds purchased 6.7% stake in Shriram Pistons & Rings which is expected to notch an FY24 EPS of Rs.100 and cash EPS of Rs.120. Buy for 25% gains.
- ➢ Natco Pharma notched a 536% higher Q2 EPS of Rs.20.6 and a 112% higher H1 EPS of Rs.43.9, which may lead FY24 EPS of Rs.80 from Rs.39.2 in FY23. Buy for 35% gains.
- ➢ 20 Microns notched 34% higher Q2 EPS of Rs.4.5 and 24% higher H1 EPS of Rs.8.8, which may lead to FY24 EPS of Rs.20 from Rs.11.9 in FY23. Buy for 30% gains.
- ➢ Deep Industries is on Capex mode and notched 240% higher Q2 EPS of Rs.4.6 and 119% higher H1 EPS of Rs.9.5, which may lead to FY24 EPS of Rs.30 from Rs.19.6 in FY23. Buy for 30% gains.
