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...
SELL BELOW 2823 WITH STOP ABOVE HIGH CANDLE CLOSE KS. TARGET 2705
Forget Fundamentals and Technicals, see the external trigger of Circuit Price band change and its impact here... Exchange moved price band 5% to 20%!!
VENKYS MADE 52 WEEK HIGH A WEEK BACK AROUND 575 AND HAS GIVEN 10 % CORRECTION. OSCILLATORS ARE IN OVERSOLD AND ITS RIPE FOR TECHNICAL RECOVERY. IF BULL RUN CONTINUES IT HAS VERY HIGH PROBABILITY OF MAKING NEW HIGH OF 600 . HOWEVER FOR A CAUTIOUS TRADER 540-550 SHOULD BE EASILY AND QUICKLY ACHIEVABLE TARGET. TRADE WITH CAUTION. Rgds Sandeep