Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions. Technical Analysis for Varun Beverages Limited (VBL):
At a current price of 594.55, VBL has shown a bullish harami pattern, indicating potential upside. The key support is at 547.68, and resistance sits at 666.46. With the stock trading 12.71% below its 52-week high and 79.48% above its low, it suggests a corrective phase after hitting prior highs. The ADX at 31.51 indicates a strong trend, while the RSI at 47.46 reveals neutral momentum, suggesting indecision among investors.
Recent trading history displays notable volatility with highs of 608.30 and lows of 566.70. The ATR of 140.46 highlights this volatility potential. Immediate resistance lies around 598.86, and a breakout above this level could signal bullish continuation. Conversely, a dip below 566.70 could indicate increased selling pressure. Traders should monitor these levels closely to make informed decisions.
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