[Premium] Trade Of The Week

JC Parets
June 7, 2021

This week we're looking for a long setup in the FMCG sector. There are pockets of this sector that are displaying strength and we'd like to focus on one such idea this week.

Balrampur Chini first came on our radar when we saw the Small-caps consistently outperforming the market. The stock achieved our earlier target and looks good for another leg of the rally. The indicator is comfortably placed in the bullish momentum territory. The price too has sustained near its all-time high and is showing signs of another breakout.

We are bullish above the risk management level of 310, with a target above 480.

Click on chart to enlarge view.

Although we haven't seen the FMCG sector as a whole take the lead in the market yet, we're seeing signals in some names. If these signals play out well, we could well see the entire sector follow through!

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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