VLS Finance jumps 7 per cent; know why its worth keeping this stock on your watchlist!
VLS Finance Ltd, the flagship company of the VLS Group with a strong net worth has carved for itself an enviable niche in the fiercely competitive financial sector in India.
VLS Group is a multi-faceted, multi-divisional integrated financial services group with a major presence in almost all the areas of financial services such as asset management, strategic private equity investments, arbitrage, and more particularly in investment banking, structured finance, corporate consulting & advisory services, stockbroking, privatisation as well as infrastructure finance along with proprietary investments and equity research.
The stock was seen outperforming on Wednesday as it jumped more than 7 per cent along with a surge in volumes. Interestingly, it moved out of counter-trend consolidation (symmetrical triangle pattern) with robust volumes. The 14-period RSI is in bullish territory and the stock is trading above its important moving averages.
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Furthermore, the stock moving average is seen trending upwards, which is positive for the stock. The average directional index (ADX), which shows trend strength, is above 25 on a daily chart. Generally, a level above 25 is considered a strong trend.