VRLLOG trade ideas
Not so bullishzone marked with blue line is a strong fib retracement support and failure to hold the same will lead to further downward move,
all the best!
VRLLOG: Better Fundamental Compare to PeersVRL Logistics Ltd.
Bullish GARTLEY (in Progress) PRZ': @ 322
Book Value: Rs. 65.66, Dividend Yield % 1.21
EPS: 10.25, P/E: 32.25
Swing TGTs: @334, 336.60, 337.80, 339.45, 342.65+
accumulation: @ 330, 327.4, 324.50, 323.65, 321.35
SL: below "PRZ" (by Closing)
Education Purpose Only.
VRL can make a short correction from hereVRL Logistics has broken down from symmetrical triangle in daily chart. The stock may correct upto 330 levels.
VRL : Breakout.VRL Logistics is showing a Breakout in its weekly Charts, & last week it showed strength returning.
Currently ruling at 353, chances are much higher that it may move towards 375/380.
However, before making that move; buy till lower levels of 336 if-at-all it comes down using position sizing.
Keep a SL at 327. Initial Targets are 375/380.
VRL Logistics ready for big moveVRL logistics has formed a symmetrical triangle pattern with volumes drying up. Theoretically it can break upwards or downwards. I feel that it has more reasons to break upwards. The macro factors like GST factors and election in Karnataka next year might be positive for the stock in coming months. It can be bought now or after the break out with a tight stop loss of 315 which is the current value of 200 ema.
VRLLOG - Buy!The stock is at a major support zone:-
--> Taking support of the rising price channel
--> Taking support of the Ichimoku Cloud
--> Near the previous high
--> Retesting the 50-day Moving Average
Target: 365-375
Stoploss: 310
