[Premium] Trade Of The Week

JC Parets
October 17, 2021

This week we’re looking at a long setup in the Financial and Metal sector. We're seeing new all-time highs in financial & metal sector indices and thought of taking a look at a stock that's ripe for a bullish move.

Let's take a look at this stock.

HDFC Bank has moved above the key Fibonacci resistance level where it took a pause in February. We saw a strong move come through above the level of 1,654 in the week gone by. The indicator is back in the bullish momentum territory. This bodes well for the sentiment in this trade as well.

We are bullish above the risk management level of 1,654 with a target near 2,221

Hindustan Zinc made a new weekly high after consolidating near the multi-year base level for over four months. The strong rally in global zinc prices in a week gone by is expected to act as a tailwind. We are bullish above the level of 340, with a target near 478.

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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