[Premium] Trade Of The Week

JC Parets
February 7, 2021

This week we're looking at two long setups. The sectors we're looking at are Private Banks and Infrastructure.

We elaborated in the Three Charts of the Week post about the strength we're seeing in Banks and Infrastructure sectors and identified a couple of names that could do well going forward.

ICICI Bank has been one of the strongest performers in the Banking sector. The stock has claimed new all-time highs, breaching the 2020 highs that were acting as a strong overhead supply zone. With this move, the price can be expected to move towards 727 with 552 acting as the risk management level.

Pullbacks towards 552 can be used as buying opportunities.

Click on chart to enlarge view.

Infrastructure has been doing well and one name that stands out is Siemens. We witnessed a good breakout in the stock in the week gone by. With 1,717 acting as the risk management level, 2,193 is the next level that we would like to keep an eye on. Momentum is in a positive regime and the strong bullish candlestick breakout alludes to the strength in the price.

After a minor pause, the market is back in the green. With sector rotation playing out we will see different stocks participating in the rally as the market progresses. We will continue to focus on the sectors and stocks that are expected to outperform the market.

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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