I am looking it at the Monthly level - you can see the price inside the Big Triangle.
Currently price is completing the second leg of the Triangle zig-zag.
If my assumption is right, there is still room for 30-35% downside, until it hits the lower wall of the Triangle.
Venky's being one of the largest company in India engaged in poultry, breeding and chicken...
Technical Overview:
1. Doji on Rising Trendline:
The weekly chart for VENKEYS reveals a Doji candlestick pattern occurring at a rising trendline. A Doji signals market indecision and potential trend reversal. In the context of a rising trendline, it suggests a point of equilibrium between buyers and sellers.
2. Triangle Pattern Formation:
The observation...
Please look into the chart for a detailed understanding.
Consider these for short-term & swing trades with 2% profit.
For BTST trades consider booking
target for 1% - 2%
For long-term trades look out for resistance drawn above closing.
Please consider these ideas for educational purpose
My conditional upside view on NSE:VENKEYS
Will take entry if price reached back at 1968, then hold for target of 2024 (56 Points) & 2100 (132 Points)
Will book loss if price trade below 1925. (43 points)
Note: This is my personal analysis, only for learning.
VENKEYS India has given a breakout and retesting its previous levels
Reason to enter the trade
1. Breakout
2. Retesting
3. High volume
4. Daily timeframe
I HAVE EXPLAINED EVERYTHING ON THE CHART FOR MY VIEWERS SO THEY CAN EASILY GRAB THE OPPORTUNITY
AND SHARE IT WITH YOUR FRIENDS SO THEY CAN ALSO TAKE BENEFIT OF IT
The father of the Indian Poultry Industry, Venkeys!
Rs.2000 is going to be a fat figure and should be a accumulation zone!
Current scenario is a buy on dip for Venkeys!
Long in it!
Company website venkys.com
4000cr worth Pune-based Indian poultry major .
First Indian corporate to own an English Premier League football club ( global footprint )
Preferred supplier to Qsr like KFC, Pizza Hut, McDonalds and TGI, besides having own version of quick service retail outlet Venky''s XPRS
Pat reducing due to aggressive expansions.
Products are...
