Varun Beverages (VBL) is showing signs of exhaustion after its multi-year bull run.
Formed a well-defined Descending Triangle pattern on the weekly timeframe.
Key Technical Observations:
Support: A firm horizontal base has formed around the $440$–$450$ zone.
Resistance: A series of lower highs (descending trendline) indicates that sellers are becoming more aggressive on every bounce.
The Trigger: The price has recently sliced through the horizontal support with a bearish candle.
Price Target: Based on the depth of the triangle, the technical target projects down toward the $300$–$320$ level (as marked on the chart).
RSI: The Relative Strength Index is trending lower, currently sitting near $33$, supporting the bearish thesis.
Disclaimer: I am not a SEBI registered analyst. This post is for educational purposes only and does not constitute financial advice. Trading in the stock market involves significant risk. Please consult with a certified financial advisor before making any investment decisions.
Formed a well-defined Descending Triangle pattern on the weekly timeframe.
Key Technical Observations:
Support: A firm horizontal base has formed around the $440$–$450$ zone.
Resistance: A series of lower highs (descending trendline) indicates that sellers are becoming more aggressive on every bounce.
The Trigger: The price has recently sliced through the horizontal support with a bearish candle.
Price Target: Based on the depth of the triangle, the technical target projects down toward the $300$–$320$ level (as marked on the chart).
RSI: The Relative Strength Index is trending lower, currently sitting near $33$, supporting the bearish thesis.
Disclaimer: I am not a SEBI registered analyst. This post is for educational purposes only and does not constitute financial advice. Trading in the stock market involves significant risk. Please consult with a certified financial advisor before making any investment decisions.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.