VARROC ENGG: Technical Pick for FY25; BREAKOUT+ 'W' PATTERN
This auto component maker hit a high of 631 on 7th Feb 2024. However it failed to hold onto the momentum and witnessed a decline.But, it started moving upwards Mar'24 onward and has generated almost 50% return by the close of Jun'24. The large bullish candle of Jun'24 broke out from the upper end of the rising channel.
A corrective pullback is observed in the month of July 2024 which paused its upward journey. Now, it is expected that it may continue its upward journey in a path which resembles a 'W' pattern in the formation.
NOTE: This is a technical pick and not a fundamental one. Kindly conduct your own research before making investment decision. This post is for educational purpose only.
A corrective pullback is observed in the month of July 2024 which paused its upward journey. Now, it is expected that it may continue its upward journey in a path which resembles a 'W' pattern in the formation.
NOTE: This is a technical pick and not a fundamental one. Kindly conduct your own research before making investment decision. This post is for educational purpose only.
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At 12% day High
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