Varun Beverages Limited (VBL) Stock - Complete Technical Analysis - Nov 18, 2024

Varun Beverages (VBL) Technical Analysis Support, Resistance & Key Indicators Nov 2024

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. Varun Beverages Limited (VBL) - Technical Breakdown and Key Price Points:

Currently trading at 609.85, Varun Beverages Limited (VBL) has seen significant price fluctuations. With the stock being 10.46% below its 52-week high and over 50% above its 52-week low, it shows a clear path for potential reversal. The price action indicates volatility, with intraday moves suggesting resistance near 617 and a strong support at around 582.85.

Key Levels and Indicators:

Support: 582.85 remains a crucial level for VBL; if it falls below, we could see further support at 546.

Resistance: VBL is facing resistance at 617.60, and any breakout above this level might propel it towards 640.

Technical Indicators Overview:

RSI is in the neutral zone, pointing to no immediate overbought or oversold conditions.

MACD remains slightly negative, suggesting there could be pressure for a downward move, but no clear trend reversal yet.

ADX shows moderate strength, suggesting the trend is not yet clear.

ATR signals significant volatility, essential for traders seeking price movements.

Moving Averages: The stock is currently above its 10-day and 200-day moving averages, indicating a potential upward trend if it can break through resistance.

For short-term traders, keeping an eye on the support and resistance levels will be crucial for potential profit-making. Longer-term investors could wait for confirmation of a stronger bullish trend before considering an entry.