Note:
1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR.
2. Always remember SL is your lifeline, not the big target...
3.Follow us for more patterns and like, share so that we feel it is helpful to many and share more patterns...
3. Views given here is not a tip rather it is for educational purpose... Aftermarket...
Bullish Butterfly Harmonic Pattern formation is seen in VARROC. From a long term perspective analysis is shared here.
Why Now this pattern is important :
From a daily chart retest of 271 levels (very important support zone) is seen.
.236 levels tested on upside and came down
20 MA is touched and is now a bit far away
In weekly chart, last two candles forming 2...
Varroc Engineering
CMP - 376
Stop - 320 on DCB
Expectation -
T1 - 475
T2 - open, Review at 475
Expected Holding Period - 60 trading days or earlier for T1
View:- Swing
Disclaimer:-
Ideas being shared only for educational purpose
Please do your own research or consult your financial advisor before investing
#VARROC
Possible swing trade opportunity
CMP - 436
Stop Loss 1 - 420
Stop Loss 2 - 405
Strict Stop Loss 3 - 375
Target 1 – 470 ( Next 5 to 7 days )
Target 2 – 524 ( 2 to 3 weeks )
Target 3 - 550 ( 3 to 5 weeks )
Reasons for my conviction -
1) No left side immediate resistance except a small gap which may get filled with the momentum in the stock
2) Moving...
My wave analysis suggest a nice momentum UP move till 475 level is possible.
I am in the trade already on Friday itself.. FYI only. That does not mean you can take the trade too..
I am NOT SEBI Registered, please note.
Happy Trading.
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
