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.
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.