Buy VBL @ 498 with a target of 554 and a stop loss at 470 - Choice Broking
Varun Beverages
Buy VBL @ 498 with a target of 554 and a stop loss at 470
VBL is showing a constructive trend continuation setup after a prolonged consolidation phase. The stock has formed a rising channel on the daily chart, indicating higher highs and higher lows — a classic sign of a developing uptrend. Price action remains well supported near the lower end of the channel, highlighting sustained buying interest on declines. The stock has reclaimed the 20 EMA and 50 EMA, both of which are now sloping upward, reflecting improving short-term momentum. Importantly, VBL is trading just above the 100 EMA, while the 200 EMA placed near the 490–492 zone continues to act as a medium-term resistance-cum-support pivot. A sustained hold above this cluster strengthens the bullish structure. Volume behavior remains healthy, with increased participation seen during up-moves, while corrective phases are accompanied by relatively lower volumes — suggesting accumulation rather than distribution. Structurally, the 470 zone acts as a key demand area, aligning with the lower channel support and previous swing lows and defining stop-loss level. As long as the price holds above this zone, the broader trend remains positive and favors further upside toward the 554 target zone in the near term
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