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.
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.