Chart of the WEEK (24 Aug to 28 Aug 2020)

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* #Vindhya Telelinks Limited  is engaged in manufacturing and sale of Cables (telecommunications cables, other types of wires & cables etc.) and Turnkey Contracts & Services business.

 As per the govt of india all villages to be connected with optical fibre in next 1,000 days.In this case I think the biggest beneficiary is VTL. 

 Source -https://timesofindia.indiatimes.com/business/india-business/all-villages-to-be-connected-with-optical-fibre-in-next-1000-days-pm-modi/articleshow/77558650.cms

 Stock is trading at 0.43 times its book value

 All above parameter indicating that Vindhya telelinks limited ready for upmove.

  Vindhya Telelinks Limited Daily/Weekly chart trading above its resistance level,if  sustain above (resistance level mentioned in the chart) this we can see up move towards 1000.00/1200.00 level as per chart pattern with the help of 750.00 support level .

  High volume indicating increased participation in bulls.

*#Asian Paints Ltd Daily/Weekly chart trading above the Life time high and if is sustain above 1920.00 ,we can see up move towards 2100.00/2200.00 level as per the fibonacci extension of 161.8% with the help of 1900.00 support level.

 Multi year high breakout with saucer pattern with high volume indicating increased participation in bulls.

Asian Paints is engaged in the business of manufacturing, selling and distribution of paints, coatings, products related to home decor, bath fittings and providing related services.

Company is virtually debt free.

Company has been maintaining a healthy dividend payout of 43.40%

         

          *Thanks for reading and please let us know if you have any questions*

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