[Premium] Trade Of The Week

JC Parets
March 21, 2021

This week we're looking at a long setup in the Power sector. Certain stocks from this sector are grabbing our attention and we're looking at one of those!

Adani Transmission has been on a tear and has only now consolidated for a couple of weeks. With the indicator continuing to display strength and the price maintaining its stride above the support of 720, the current levels offer a favourable risk-reward ratio. The Energy sector as a whole has been outperforming the market and Adani Transmission has been one of the strongest performers in this sector.

We are bullish above the levels of 720 with a target near 1,075,

Click on chart to enlarge view.

As the Power and Oil & Gas stocks continue to perform well, Energy continues to display its strength with stocks participating in rotation.

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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