Varun Beverages share are up by 0.29%, Nifty up by 0.07%

At 10 Sep 11:06 today, Varun Beverages shares are trading at price ₹1530.35, 0.29% up from the previous closing price. Sensex is trading at ₹81700.21, up by 0.17%. The stock has hit a high of ₹1543 and a low of ₹1528 during the day.

On the technical front, the stock is trading above the 5,20,100,300 days SMA & lower than the 10,50 day SMA. The stock will have support at 5,20,100,300 days SMA & face resistance at 10,50 days SMA.

The SMA values for the stock are given below :

The classic pivot level analysis shows that on a daily time frame, the stock has key resistances at ₹1539.6, ₹1554.45, & ₹1579.55, whereas it has key support levels at ₹1499.65, ₹1474.55, & ₹1459.7.

Till 11 AM today, the volume traded on NSE & BSE for Varun Beverages was -16.38% lower than the previous trading session. Volume traded is an important indicator along with price to study trends. Positive price movement with higher volume suggests a sustainable upmove, and negative price movement with higher volume might be an indication of further decline in prices.

Overall, as per Mint technical analysis, Though the stock is showing signs of bottoming out, investors should exercise patience and await confirmation of a bullish short-term trend for a confirmed reversal.

From a fundamental analysis perspective, the company has a ROE of 34.15% .The current P/E of the stock is at 81.92 & P/B is at 23.12.

The median 1-year forecasted upside in this share is at 9.08% with a target price of ₹1669.27777778.

The company has a 62.66% promoter holding, 1.62% MF holding, & 25.32% FII holding as per filings in the june quarter.

The MF holding has increased from 1.52% in march to 1.62% in june.

The FII holding has decreased from 25.78% in march to 25.32% in june quarter.