Positional Trading Idea on Varun Beverages
Updated
VVBL
If stock crosses above 1562 ATH Resistance then stock may reach the 1.618 Fibonacci extension target near 1700 level in upcoming days on 1 Hour chart. Trailing Stop Loss below 20 period Moving Average or Super Trend support whichever is low.
If stock crosses above 1562 ATH Resistance then stock may reach the 1.618 Fibonacci extension target near 1700 level in upcoming days on 1 Hour chart. Trailing Stop Loss below 20 period Moving Average or Super Trend support whichever is low.
Note
Tanked to low near 0.382 retracement level. Long may be initiated when price crosses 0.618 retracement level above 1480.Note
Closed above the support near 1345 level. May exit if close below 1345 level.Note
Didn't close below 1345 and daily close above 1550 will push stock towards 1700 target.
Disclaimer: Above discussion is not a Buy or Sell recommendation. This is only for educational purpose.
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