[Premium] Trade Of The Week

JC Parets
February 20, 2021

This week we're looking at two long setups from the Energy space. Nifty Energy has performed well and its time to start observing its constituents more intently.

Gujarat Gas has been one of the consistent performers in this sector. With the weekly close above 455, the stock seems ready for its next target. Notice how the indicator has remained in the top half of the indicator pane since 2019.

We are bullish above the risk management level of 455, with a target near 666.

Click on chart to enlarge view.

Power Grid managed to break out of a long-term four-year base. We keep saying- the bigger the base, the higher in space! With the indicator moving into bullish momentum territory and price moving past 226, we could see levels of 291 being achieved in the weeks and months ahead.

As the market rally progresses, sectors continue their game of musical chairs. With Energy and Power sectors performing well, the above stocks could generate good returns going forward.

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

And if you're a Premium Member, be sure to check out our other weekly post, "Three Charts For The Week Ahead."

Allstarcharts Team

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