[Premium] Trade Of The Week

Pharma continues to press to new highs on an absolute and relative basis, which is why it remains one of the primary areas we're finding long ideas.

Here's Biocon breaking to new highs with well-defined risk. In addition to being in a strong sector, the stock is a leader itself with momentum in a bullish range and a clear trend to the upside. If prices are above 440, then we can be long with a target near 584.

Click on chart to enlarge view.

Zydus Wellness is a similar story and is now breaking out to new all-time highs. If prices are above 1,800, then this breakout is intact and we want to be long with an initial target near 2,290.

And another one we want to keep an eye on is Rajesh Exports, which broke out of a tight consolidation to multi-month highs. While the stock has a lot of work to do over the long-term, in the short-term if prices are above 455 then the bias is likely higher towards 570 and eventually 651. Any weakness back towards 455 should be viewed as a buying opportunity.

For all of the stocks we want to be buying and selling, make sure to review our Trade Ideas page.

Make sure to check out our other weekly post, "Three Charts For The Week Ahead." And if you haven't watched last week's September Conference Call Recording, we'd highly encourage it.

Thanks for reading and please let us know if you have any questions.

Allstarcharts Team