[Premium] Trade Of The Week

Sundaram Finance has broken out of a three-year base with a strong bullish candlestick.  With momentum in a bullish regime and Financial Services continuing to perform well, the price can move towards its next target of 2,790. We are bullish above the risk management level of 2,100.

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Next on our radar is AAVAS Financiers. The price seems to have absorbed the overhead supply at 2,100. With four unsuccessful tests in the past, the price broke out of this resistance this past week and looks good for a move towards 2,875. Pullbacks towards can be used as opportunities to initiate position as long as the price remains above the risk management level of 2,100.

Among the sectors that are performing well, Financial Services looks good. With that in mind, these stocks stand out from a risk management perspective.

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Allstarcharts Team