Varroc Engineering has broken the wedge pattern, it is good buy around marked demand area with marked demand area with below level as stop loss for long term.
Let's see
Happy Investing!
VARROC was trying to cross the resistance level of 293, and marginally succeeded today with open and close above yesterday's close with a positive momentum.
Varroc Engineering Ltd was incorporated in 1988, is the flagship company of the Aurangabad-based Varroc Group. Varroc is a global tier-1 automotive component group. It is engaged in the business of manufacturing and supplying automobile components to a wide range of OEMs across the globe
The stock has reached support zone and is ready for a reversal rally. Trade has a favourable risk reward ratio of 3:1. Trade is supported by brokerage calls.
Varroc Engineering is at its last swing support, if it stays above or close to this range, the stock can rebound. The company is good and financially strong, quarterly results affected by shortage of semiconductors. Good bet for mid to long term.
VARROC - Volume activity near resistance and breakout above it sets it for a long entry. Entry, SL, Targets marked on charts.
These idea's are not my recommendation. Do your own analysis before making any trade based on this idea.
#VARROC
Varroc Engineering Ltd.
CMP: 352.35
Buy @ Support Line approximately 305-7
Target: 370 / 438
SL: 265
If you like my work, kindly LIKE, SHARE, & FOLLOW for latest stock recommendations. :)
