VBL was consolidating at Support Zone if level 837 will Break We will go long. We Will go Short if 800 level Break down.
Long Entry: If a candle closes Above 837 and it's High Breaks.
Long TGT: 925
Long SL: if a Candle closes below 805 and it's low Break.
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Short Entry: if a Candle closes below 800 and it's low Break
Short TGT: 710
Short SL: If a...
The chart is self explanatory - Entry, Stop Loss and Target mentioned in chart.
- Breakout level acting as support
- Fib Level ; crucial level
If key support respected by stock, start accumulate in small quantity.
The stock is in consolidation mode and there is resistance zone around 925-935. Once it breaks this resistance zone it will move upwards ....see chart for targets.
BUY:- Buy VBL above 952 with a stop loss of below 930. VBL trying to break highs as for now, it's consolidating near the levels.
Disclaimer :- This is only for educational purposes please do your own analysis before investing hard-earned money.
1. Varun beverages was forming the triangle pattern.
2. Now the triangle is broken the triangle and closed above it with a good volume.
3. May expect a upward price movement in the upcoming days
4. Just wait for the next candle to confirm the breakout. If the next candle is closing well above the pattern, we can take the position.
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, 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.
It is a very profitable pattern and has a very good accuracy rate because of a clear logical reason behind it. Can be bought for a target of 850. CMP-790. SL will be 750 on a closing basis. HIT the like button if you liked my analysis and do FOLLOW for regular swing trading and fundamental ideas.
