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VEDANT FASHIONS LTDVV

VEDANT FASHIONS LTD

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MANYAVAR trade ideas

MANYAVAR: Analyzing Potential Bullish Reversal, Festive DemandNSE:MANYAVAR : Analyzing Potential Bullish Reversal Amidst Festive Demand Surge Current Price: ₹1337 Date: 16 October 2024 In the dynamic landscape of the retail market, MANYAVAR is currently navigating a pivotal phase, with signs indicating a possible bullish turnaround. As the festive season unfolds, characterized by heightened consumer activity due to significant celebrations like Karwa Chauth and Diwali, this analysis provides a comprehensive outlook on key support and resistance levels that could influence trading strategies. Key Technical Levels: Support Levels: ₹1305: A significant psychological support level. A decisive move below this could trigger bearish sentiment and signal increased selling pressure. ₹1316: This level serves as a secondary support. Maintaining prices above this threshold is vital for sustaining bullish momentum. ₹1336: Currently serving as immediate support, this level is crucial for determining short-term price action and trader sentiment. Resistance Levels: ₹1346: The first major resistance level. A breakout above this price point could catalyze bullish sentiment and attract momentum traders. ₹1357: An additional resistance zone. Close monitoring of price reactions here will be essential to confirm a potential uptrend. ₹1376: Further up the chart, this level is critical for the validation of sustained bullish momentum. ₹1427, ₹1466, ₹1496: Long-term resistance levels that, if breached, could signify a strong bullish phase and draw in significant institutional interest. Breakout Zone: The pivotal breakout zone lies between ₹1346 and ₹1357. A robust close above ₹1357 may set off a chain reaction of buying activity, propelling the stock towards higher resistance levels and potentially unlocking significant upside. Market Sentiment and Context: The approach of the festive season presents a unique opportunity for retail stocks, particularly in the ethnic wear segment. With consumer spending historically surging during this period, demand for jewelry and traditional attire is expected to increase. This favorable market environment positions MANYAVAR well to capitalize on the seasonal uptick in consumer behavior. Strategic Outlook: Given the current price action and the backdrop of impending festive demand, traders should closely observe key support and resistance levels to refine entry and exit strategies. A careful assessment of price movements around these thresholds will be critical for identifying potential bullish opportunities. Conclusion: MANYAVAR stands at a crucial crossroads that may lead to a bullish reversal, particularly as market conditions favor increased retail activity during the festive season. By monitoring key technical levels and market sentiment, traders can position themselves effectively to leverage potential price movements. Disclaimer: I am not a SEBI Registered Research Analyst (RA). This analysis is for educational purposes only and should not be considered as investment advice. Please conduct your own research or consult a financial advisor before making any trading decisions.
NLong
by Fight_Bulls_vs_Bear
Manyavar Vedant Fashions (Study Purpose)Added in Msci index from 29th feb 2024. Buying can be seen upto 50dma Rs1102 or 200dma Rs1246. Out from continuos selling pressure. SL Rs930. Rsi upward rising and Macd crossed signal line, histogram showing positive strength. Disclaimer : Above scenario just for educational purpose and study of graphical movements as per available technical parameters derived by professionals. Be careful before investing and consult your advisor before making such decisions. I am not responsible for any mishaps or losses or gains. Not a registered sebi member. Personally I'm invested.
NLong
by nitinKgupta
Reverse head and shoulder pattern on MANYAVARMANYAVAR formed a reverse head and shoulder pattern on daily chart. For quite some time this particular stock has been going down but now shows signs of reversal. Stoploss can be had just below the breakout candle. Also note the wick on 4th June indicating strong buying pressure at those level. Target can be just below the resistance level marked. This trade offers ideal risk reward of 1:2. Hope you like this idea, if so please boost the idea or leave a comment below on what you think. Otherwise, happy trading :-)
NLong
by digijagan
In-Depth Analysis of MANYAVAR (NSE: MANYAVAR)Technical Perspective: **1. Support and Trend Analysis: On the weekly chart, MANYAVAR is exhibiting a compelling technical setup. The recent candle has found support at a well-defined rising trendline, signifying the presence of bullish sentiment. This alignment with a rising trend is a positive indication, suggesting a continuation of the overall uptrend. **2. Horizontal Support Validation: The presence of horizontal support in conjunction with the rising trendline adds a layer of confirmation. This confluence indicates that not only is the broader trend intact, but there is also a historical price level providing support. Such instances often act as strong reversal or continuation zones. **3. Relative Strength Index (RSI) Insight: Delving into momentum indicators, the RSI on the daily timeframe highlights oversold conditions. This can be interpreted as potential exhaustion in the selling pressure, possibly preceding a reversal or a relief rally. A rebound from oversold RSI levels often aligns with price upswings. Trade Strategy: **1. Entry: Consider initiating a long position at the current market price (CMP) of 1278, capitalizing on the dual support from the rising trendline and horizontal support. This entry strategy aims to capture the potential upward move following the period of consolidation. **2. Stop Loss Placement: Implement a strategically placed stop loss at 1230. This level is selected to allow for minor price fluctuations while guarding against substantial downside risk. It aligns with the principle of disciplined risk management. **3. Target Setting: Set a target at 1358, anticipating a positive move supported by the technical analysis. This level is chosen based on the potential for a rebound from oversold conditions, coupled with the historical trendline support. Risk Factors and Considerations: **1. Market Conditions: Acknowledge that market conditions can influence the outcome of technical patterns. Stay informed about broader market trends and news events that may impact the stock. **2. Risk-Reward Ratio: Evaluate the risk-reward ratio of the trade. While the setup seems promising, ensure that the potential reward justifies the assumed risk. **3. Continuous Monitoring: Regularly monitor the trade for any changes in the technical setup or unexpected market developments. Adjust the strategy if needed based on evolving conditions. Conclusion: The technical analysis suggests a compelling opportunity in MANYAVAR, with multiple supportive factors aligning for a potential upward move. However, it's crucial to approach the trade with a comprehensive understanding of risk and continuously assess its progress. Always remember that markets carry inherent uncertainties, and a disciplined approach is key to successful trading.
NLong
by yaashul
Vedant Fashions(Manyavar)Vedant Fashion(Manyavar) Looking good after 9 months of rally and 9 months of Consolidation, just started the reversal for upward trend (hopefully another 9 months) Reasons for being bullish on this counter are highlighted on the chart: - Daily multiple crossovers - Gann time cycle - More volumes - RSI trendline BO(would be more appropriate if it gives BO in the bullish zone) - Daily MACD crossover just started - upcoming Festive and Wedding season
NLong
by happyvegan10
Vedanta Fashion (Manyavar)Special Diwali Gifts for Everyone NSE:MANYAVAR Stock has breakout from all time high Exponential Moving Average Crossover Fundamentals are Improving 1) Sales got double in 6 Years from 504Cr to 1009Cr with reduction in cost. 2) PAT from 90Cr to 308Cr in 6 years. 3) Reserves is 5 times in 6 Years. 4) Credit Cycle improved Market Sentiment(views) from last 2 years so many people haven't celebrated Diwali as they used to do before Covid but this time they will do it with huge spending. Marriage Season will come. To Experienced Investor and Trader, Correct me if I am wrong.
NLong
by siddhxrth_choksi_