MarketsWithKR

Venkeys Daily Chart Resistance

NSE:VENKEYS   VENKY'S (INDIA)
This is a pretty important resistance for Venkeys. The stock has a tendency to retest 1000 levels. The last time such a retest happened, it broke out of an upper circuit spree. This time around, the candles do not inspire confidence as the most recent three indicate a fair bit of choppiness . Volumes appear to be fairly good and momentum seems sufficient to breach resistance, too. However, it remains to be seen how the stock will react given broad-market cues. As a frozen foods stock, demand should hopefully remain evergreen , with production ramping up due to Unlock 1.0.

Once this resistance is breached, we might see a slowdown at 1330 or so.
Comment: The resistance has worked and the stock never looked back. After a rather strong two days, it might be making a move towards this level again.
Comment: VENKEY's attempted higher levels briefly, but is now retracing.

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