🔻 Short Trade Setup – Varun Beverages Ltd. (VBL)
CMP: ₹469.55
RSI: 32.02 (Near oversold but with bearish momentum)
🧾 Technical Overview:
Pattern: Rounding Top Formation
Signal: Neckline breached, confirming pattern breakdown
Implication: Signals intensified weakness, increased probability of price decline
📉 Trade Details:
Entry (Short): ₹465
Stop Loss: ₹499 (Above recent resistance & invalidation of breakdown)
Target 1: ₹385
⚠️ Risk-Reward Ratio: Approx. 1:2.3 — favorable for short setup.
Key Notes:
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CMP: ₹469.55
RSI: 32.02 (Near oversold but with bearish momentum)
🧾 Technical Overview:
Pattern: Rounding Top Formation
Signal: Neckline breached, confirming pattern breakdown
Implication: Signals intensified weakness, increased probability of price decline
📉 Trade Details:
Entry (Short): ₹465
Stop Loss: ₹499 (Above recent resistance & invalidation of breakdown)
Target 1: ₹385
⚠️ Risk-Reward Ratio: Approx. 1:2.3 — favorable for short setup.
Key Notes:
- RSI at 32 indicates strong bearish momentum; nearing oversold but not yet exhausted.
- Volume confirmation during neckline breach would strengthen the bearish case.
- Position sizing and strict stop-loss adherence is crucial, as any reversal above ₹499 would negate the pattern.
✅ For more trading ideas like this, make sure to share and follow my Idea Stream! ✅
Trade chiuso: stop raggiunto
VBL after breaking the eckline of a rounding top formation, triggering a bearish setup has seen a lowes of 446 levels. However, the stock found strong support around the ₹446 level and displayed a revival renewed buying interest.
The move back above the breakdown point invalidates the earlier bearish setup, effectively negating the rounding top structure. This price action reflects a shift in sentiment and regaining of upward momentum.
Given the strength of the reversal and previous projections, the short-term outlook is now positive, with potential upside towards ₹567. A sustained move above this level may open the path toward ₹610 over the medium to long term.
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Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.