VBL trade ideas
Varun Beverages Ltd. (NSE) with Fibonacci retracement levelsThis chart appears to be a daily candlestick chart of Varun Beverages Ltd. (NSE) with Fibonacci retracement levels applied, a 200-day Simple Moving Average (SMA), and an RSI indicator.
### Analysis:
1. **Fibonacci Retracement:**
- Key Fibonacci levels:
- **0.382 (625)**: Current resistance zone, as the price is hovering near it.
- **0.5 (609.5)**: A critical support level; the price has bounced from this zone previously.
- **0.618 (593.05)**: Acts as a strong support zone below.
- **0.786 (569.65)**: Major support; the price has not yet tested this level recently.
2. **Resistance Levels:**
- **625 (0.382 retracement)**: Immediate resistance level. A breakout above this level could lead to upward momentum.
- **640-660 Zone**: A significant resistance cluster, as seen from previous price action.
3. **Support Levels:**
- **609.5 (0.5 retracement)**: Immediate support zone.
- **593 (0.618 retracement)**: Secondary support level. If breached, further downside could be seen.
- **200-SMA (602.49)**: Strong dynamic support. The price respecting this SMA indicates a potential bullish bias if maintained.
4. **Moving Average:**
- The **200-SMA** is slightly sloping upward, suggesting the long-term trend is still positive.
5. **RSI Indicator:**
- **Current RSI: 53.72**: Neutral zone. It indicates neither overbought nor oversold conditions. If RSI crosses 60, it could confirm bullish momentum.
### Key Observations:
- The price is consolidating between the **609-625 range**.
- A breakout above **625** could lead to testing the upper resistance levels around **640-660**.
- If the price breaks below **609**, expect support at **593 (0.618 retracement)** and the **200-SMA at 602.49**.
### Suggested Strategy:
- **Bullish Scenario**: Wait for a breakout above **625** with strong volume for a potential upward move.
- **Bearish Scenario**: If the price breaks below the **609-602 zone**, it might head toward **593 or 570**. Consider short trades below these levels.
varun beverages This is a chart pattern and this stock is moving in the same systematic way It is not you or me who will decide where the market share is going to move
it is the market that will determine what and wheat and how things will happen It is not we are always right it is not possible
can adjust our lines of drawings according to the market
VBL // Level // 1H"Welcome to SkyTradingZone "
Hello Everyone 👋
Here are some key levels related to the VBL 1-hour chart:
Resistance Levels:
Immediate Resistance: 13.50-13.60
Medium-term Resistance: 13.80-13.90
Long-term Resistance: 14.20-14.30
Support Levels:
Immediate Support: 12.80-12.90
Medium-term Support: 12.40-12.50
Long-term Support: 11.80-11.90
Trend Lines:
Short-term Trend Line: The VBL has been trending upwards since the December 2020 low, with a short-term trend line around 9.50
Medium-term Trend Line: The VBL has been trending upwards since the September 2020 low, with a medium-term trend line around 11.20
Long-term Trend Line: The VBL has been trending upwards since the March 2020 low, with a long-term trend line around 8.50
VBL-An ATH breakout in super bullish FMCG stock VBL has been a consistent outperformer among FMCG stock in this bull run.
As we can clearly see, stock is forming a beautiful staircase pattern(continuous flag pole) during the uptrend.
Stock has given breakout in closing basis of ATH. A good stock for quick momentum traders.
Not a recommendation.
If interested, do check the chart of RVNL which has shown a similar staircase pattern in past.
Just A View - VBL📊 Script: VBL
📊 Sector: FMCG
📊 Industry: Food - Processing - Indian
Key highlights: 💡⚡
📈 Script is trading in consolidation zone since last few trading session.
📈 Script has to give breakout or breakdown to came put of consolidation zone.
📈 For breakout script has to give closing above 1644, and for breakout script has to give closing below 1578
KEEP AN EYE ON STOCK
⚠️ Important: Always maintain your Risk & Reward Ratio.
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Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes.
Eat🍜 Sleep😴 TradingView📈 Repeat 🔁
Happy learning with trading. Cheers!🥂
VBL Varun Beverages Expecting 30-40% by End of this Year.Varun Beverages Limited is an Indian multinational company that manufactures, bottles and distributes beverages. It is the largest bottling company of PepsiCo's beverages in the world outside the United States and the largest in the AMESA sector.
Promotors Have 62.9%
March 2024 Net Profit: 548 cr
Technical side: Darvas Box Theory
Targets: 1844/2037/ 2206
Duration: 6-8 Months
Imp. Note: This analysis is provided for informational purposes only and does not constitute a direct recommendation to buy or sell stocks. Investors should conduct their own research and consult with financial advisors before making any investment decisions, as market conditions and individual circumstances may vary.
Market Risk: However, it's important to acknowledge the inherent risks associated with investing in the stock market, including but not limited to volatility, economic downturns, regulatory changes, and unforeseen events that can impact stock prices. It's crucial for investors to remain vigilant and diversify their portfolios to mitigate potential losses.
