SWING IDEA - VIP INDUSTRIESVIP Industries , a leading manufacturer of luggage and travel accessories, is displaying technical indicators that suggest a promising swing trading opportunity.
Reasons are listed below :
450-500 Strong Support Zone : The 450-500 level has been established as a strong support zone, providing a solid base for potential upward movement.
Bullish Engulfing Candle on Weekly Timeframe : The formation of a bullish engulfing candle on the weekly chart indicates strong buying pressure and suggests potential for further upward movement.
Daily Candle Engulfed 7 Daily Candles : The recent daily candle has engulfed the previous 7 daily candles, demonstrating significant buying interest and a potential shift in trend.
Golden Fibonacci Zone : The stock is finding support at the golden Fibonacci retracement level (0.618), a key area where prices often bounce back, indicating potential for an upward move.
Increased Volumes : A noticeable increase in trading volumes confirms the strength of the price move and indicates growing investor interest.
Target - 575 // 660 // 715
Stoploss - weekly close below 445
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Vipindustries
VIPIND : Best Swing Trading OpportunityVIP Industries has given Zero Returns from last 3 years
VIP Industries Stock currently around the support which was working as Resistance.
Stock has also formed Falling channel in short term and now around 500 levels is coming support from these 2 factors.
So stock is around the support and looking good for swing trading !
Disclaimer : We are not SEBI registered analyst. Do your own research before taking any investment decision.
#stock #stockmarket #investing #money #finance #trading #investment #VIP #VIPIND
VIP INDUSTRIES CHARTTechnical Analysis of VIP Industries Chart: Wave Sequence and Current Outlook
This research provides a concise overview of the wave sequence observed in the chart of VIP Industries. The analysis covers four waves, detailing their completion points and current status, with a focus on the ongoing Wave 4. The possibility of an "abcde" pattern formation within Wave 4 is highlighted, indicating potential reversal points around the 480-490 level, corresponding to 38.2% of the Wave 3 upward movement. It is crucial to note that the author is not a SEBI registered analyst, and readers are advised to consult their financial advisors for investment-related inquiries.
Key Points:
Wave Sequence Overview:
Wave 1 completed at 36 on 19 Sep 2005.
Wave 2 completed around 7/- in Mar 2009.
Wave 3 completed around 775 in Apr 2022.
Current Status - Wave 4:
Wave 4 is currently in progress.
The possibility of an abcde pattern is suggested.
Anticipated reversal level: 480-490, representing 38.2% of the Wave 3 upward movement.
Important Disclaimer:
The author is not a SEBI registered analyst.
Readers are advised to consult their financial advisors for investment-related
Warm regards
Weekly VIP Industries ChartThe chart shows Fibonacci extension levels, which started from Rs. 70 to Rs. 650. There was 78.6% retracement shown from the top to Rs. 190 level. The price is currently trading at Rs. 280, which can be taken as a buy point. The Fibonacci extension levels show the prospective exit points giving returns ranging from about 50% to 130%, depending on the on how long you're willing to hold the trade.
VIP Industries Clean BreakoutThe idea here is about VIP Industries:
V.I.P. Industries Ltd. engages in manufacturing and marketing of luggage, bags, and accessories. The firm's product includes hard and soft luggage-trolleys; suitcases, duffle bags, overnight travel solutions, executive cases, backpacks, and travel accessories. Its brands include VIP, Carlton, Caprese, Footloose, Alfa, Aristocrat, and Skybags.
My view is bullish (Swing trade) for the below observed technical factors.
Points as per TA on a Daily & Weekly chart:
1.Contracting or Symmetrical triangle breakout & retested on weekly chart as per below:
2. Bearish Crab Harmonic CD leg under formation at the time of publishing as per below:
3. EMA 20 support established on weekly chart as per below:
4. Trading above 20 & 100 EMA on daily chart.
5. Double Bottom formation competed & Neck line breakout completed as per below:
6. Ichimoku Cloud analysis: Kumo Breakout & Kumo Twist on a daily,weekly & monthly chart is strong upward momentum at the time of publishing. This is a very good signal for upward momentum.
7. RSI is at 62.82 on a weekly Chart and 66.72 on daily chart at the time of publishing.
8. MACD above signal line on daily & weekly chart which is a signal for upward momentum.
9. Hull Moving average and other moving averages on a daily,weekly & monthly chart is a strong buy.
10. ADX (Average directional index ) trend strength is at 10.45 on a weekly which indicates a absent or weak trend (ADX between 0-25 is a Absent or weak trend) and 32.57 on a daily chart which indicates a strong trend .The trend seems to be picking up.
Projected Target: provided in the chart as per Cypher harmonic pattern.
Stop Loss: Provided in the chart.
Disclaimer: “The above is an Educational idea only and not any kind of financial or investment advice. So please do your own DD (Due Diligence) before any kind of investment”.
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