Market Cap (Mcap): ₹8,025 Cr
Current Market Price (CMP): ₹525.30
52-Week High/Low: ₹632/₹239.45
PE Ratio: 15.77 | PB Ratio: 8.23
Technical Analysis:
Uptrend Breakdown: Broke the uptrend from July 2023, showing a false breakdown.
Close to Lower Bollinger Band: Near the lower Bollinger Band, indicating potential oversold conditions.
Moving Averages: Currently moving...
-currently in very crucial support zone should reverse from here
-50 ema zone is near and trendline from lower side
-above todays high i am expecting it to hit 52week high one again
-keep in radar can give decent return
This 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...
VARROC ENGINEERING CMP 543 dated 20-1-2024
1. Flag Pattern on Weekly & Daily chart
2. Super RRR
Buy above 545 target 555-570-585-600-635 SL 510
Higher target can be 685 SL 475
It is just a view, Please trade at your own risk.
Varroc Engineering- Buy above 565 for the target of 832. Achieving the target will take much time as its in weekly pattern.
Currently at resistance zone.
Note: This is for educaitonal purpose only.
chart is in uptrnd . we can take entry here by taking small stoploss
Disclaimer:- Invest at your own risk,, i am not register with Sebi.. This chart is according to my technical analysis which i learnt from past years
Checkout an amazing breakout happened in the stock in Weekly timeframe, macroscopically seen in Daily timeframe. Having a great favour that the stock might be bullish expecting a staggering returns of minimum 25% TGT. IMPORTANT BREAKOUT LEVELS ARE ALWAYS RESPEECTED!
NOTE for learners: Place the breakout levels as per the chart shared and track it yourself to get...
Varroc - Get ready for a Ride
1) Long cup is forming on monthly time frame,
2) It may retest at 523
3) then breakout....after pullback if any.
Target 1820 (Long Term)
Varroc 2200 Long
Seems to forming perfect bowl pattern, and at later stage may form cup an Handle pattern as well.
Now it broke 2020 low and is breaking trendlines with large volume
stock looking good it has cosolidated from september 2019 and got multiple rejection on 500 level finaly got breakout with higher low so more upside is possible
creates a channel with its bands based on the highest and lowest values for the last X bars (X is the value of the 'Length' setting). The strategy enters long if the high of the current bar is higher than the upper channel band of the previous bar.
#VARROC - has given a very strong multi-year breakout on the weekly chart. A stock to have in your watch list to buy on a pullback or to add some quantity here.
