Varun Beverages, my version: The stock is about to cross the upper trendline. If it sustains the next candle closing above the trendline, then it's perfect BO :)
Twice before, it couldn't sustain the trendline breakout.
Target 1 =880 (Book 80%)
(Target 2 = Trail up to 920)
Stoploss = 750
- Formation of Higher lows.
- Repeatedly Hitting Resistance 1 (which is making it weaker).
- A Strong Support at 720.
- Bullish weekly pattern.
Varun Beverages has given a good breakout candle on 75 minutes and daily chart. It has been bought with huge volumes.
I recommend trading this stock as follows:-
1. Daily SSL is 770. Meaning if stock trades below 770 at closing time then we exit our position.
2. Enter 40% quantity now at CMP. Enter 30% quantity at 800 and enter 30% at 785. I...
The stock is over all riding a Rising Parallel Channel.
Inside that it has been consolidating in a Darvas Box from late 2020.
Inside that, it has formed an Inverted Head and Shoulder pattern to breakout from this consolidation.
Ride the Trend.
A simple pattern of breakout and retest with a risk: reward of > 2.
+ Entry only after a green candle on a daily closing basis.
Let me know in the comments section if you have any doubts regarding the setup??
Daily Chart Pattern
Stock on trend line Support
Can See Good Up move from here
Good Trade for Short Term
Company has delivered good profit growth of 30.02% CAGR over last 5 years
Company has been maintaining a healthy dividend payout of 17.64%
Stock is trading at 8.27 times its book value
Promoter holding has decreased over last 3 years: -7.18%
Place SL below Trendline go for Long Trade......Wait for confimation...If you can see a big volume then enter
Disclaimer: All charts are purely for educational and information purpose only. Invest or Trade at your own risk.
Note: This is for educational purpose only.
There seems to be a bullish trend reversal at support. The trend line support coincides with Bollinger Band lower band as well. There is a high volume which accompanies the trend reversal.