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Varrocengineering

Varroc Engineering cmp 595.30 by Weekly Chart view since been li*Varroc Engineering cmp 595.30 by Weekly Chart view since been listed* - Price Band 475 to 500 Support Zone - Price Band 600 to 625 Resistance Zone - Volumes are needed for good breakout success - Weekly basis Support at 525 > 445 > 360 with Resistance at 685 > 760 > 855 - *5 year's long Bullish Cup and Handle done with the neckline at the Resistance Zone* - *Price above 1st Falling Resistance Trendline well sustained, now need to cross 2nd for successful Breakout*
NSE:VARROC
by PIYUSHCHAVDA
Varroc Engr cmp 564.45 by Weekly Chart views since listing*Varroc Engr cmp 564.45 by Weekly Chart views since listing* - Support Zone at 445 to 480 Price Band - Resistance Zone at 625 to 660 Price Band - *Bullish Cup & Handle with neckline at the Resistance Zone* - Weekly basis : Support at 480 > 358 > 272 with Resistance at 660 > 752 > 835 - Volumes are spiking heavily intermittently indicative of a breakout attempt on path - Price sustaining above Rising Support Trendline but yet to cross above Resistance Zone for a fresh breakout - *Price sustaining above lowest Falling Resistance Trendline but needs to cross above other 2 Falling Resistance Trendlines*
NSE:VARROCLong
by PIYUSHCHAVDA
VARROC ENGG: Technical Pick for FY25; BREAKOUT+ 'W' PATTERNThis auto component maker hit a high of 631 on 7th Feb 2024. However it failed to hold onto the momentum and witnessed a decline.But, it started moving upwards Mar'24 onward and has generated almost 50% return by the close of Jun'24. The large bullish candle of Jun'24 broke out from the upper end of the rising channel. A corrective pullback is observed in the month of July 2024 which paused its upward journey. Now, it is expected that it may continue its upward journey in a path which resembles a 'W' pattern in the formation. NOTE: This is a technical pick and not a fundamental one. Kindly conduct your own research before making investment decision. This post is for educational purpose only.
NSE:VARROCLong
by finvestar
1
VARROC Analysis & PredictionThis is the analysis of VARROC in the Daily Time Frame. Watch carefully. The chart explains itself. If it breaks and sustains above the upcoming resistance level, it is good for the stock. There are some prediction levels. These Levels act as Support and Resistance according to position of price. You have to trade according to level breakout or breakdown. Always maintain your risk management. Book your profit according to your “STOMACH”. Disclaimer: This is not investment advice. I am not a SEBI Registered Analyst. Anything posted here is my own analysis and views. This is created for educational purposes only. Always consult your Financial Advisor before taking any decision or trade. Happy trading. About VARROC : Varroc Engineering Ltd. engages in the manufacture and supply of automotive components. Its products include polymer, electrical-electronics, metallic, and lighting systems. It operates through the Automotive and Others segments. The Automotive segment offers automobile products which comprises of auto parts for two-wheelers, three-wheelers, and four-wheelers. The company was founded on May 11, 1988 and is headquartered in Aurangabad, India.
NSE:VARROCLong
by suraranjanganguli
VARROC ENGINEERING - TREND IS CHANGINGFUNDAMENTALS Varroc belongs to auto ancilliary sector. One of the strongest OEM player to ride this bull run on auto sectors. Ready for EV and had rolled out a lot of stuff for 2 wheelers already. Engine Valves, Lighting, Forging, ADAS ; you just name it and they make that. The company is not only catering to Indian markets but have manufacturing setup outside india as well for global business.. One of the key points to note is that Varroc has very low public float around 8%. 75% with promoters, 5% with FIIs, and 12% with DIIs (MFs mainly) While things went bit haywire post 2019 and company's growth went sideways to negative, it looks like they are back on track. The current market cap is just under 8500 Crores (At cmp 555) while the Enterprise Value is value is already above 9600 Crores. PE ratio is on a higher side amongst the peers but that would get adjusted with the expected rise in sales and underlying profits. Cash flows of the company has also significantly improved. Company has been taking initiative to lower down it's debt and its net debt to EBITDA had improved significantly (WALK the TALK). While some business has seen some dip in European markets, the overall order book is very healthy and the results of all the initiatives shall reflect in the financials in next couple of years. TECHNICAL On technical charts it has broken out of 2019-2020 levels which it attempted to touch base in 2022 and recently in Sep/Oct 2023 as well. This attempt on 17 Nov 2023 has successfully cleared the resistance on weekly charts with rising volumes. Another interesting thing is that there was high volume rejection in May 2022 when it peaked around 493 in the month of April 2022; the current price and volume trend has even taken off those rejection levels with ease. 740 is a very very initial trading target (weak below 430) while I look this scrip as a portfolio buy for minimum 2-3 years time frame with targets of 1100 ++ (Weak below 400) PS: From cmp of 555 this could be a doubler or multibagger in making. CLose watch on QoQ performance for next 6 quarters shall reveal a lot about the company.
NSE:VARROCLong
by AAnandAggarwal