🔻 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! ✅
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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.
Related publications
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.