The upmove in the stock of VIP Industries is gaining momentum. The stock had surged over 8 per cent on Thursday and closed on a strong note. This rise confirms a complex inverted head and shoulder pattern. This is a bullish reversal pattern. The neckline support of this pattern is at ₹335. Immediate resistance is around ₹380, which can be broken in the coming days. Such a break can take VIP Industries’ share price up to ₹420 in the coming weeks. Traders can go long now at ₹367. Accumulate on dips at ₹348. Keep the stop-loss at ₹325 initially. Trail the stop-loss up to ₹372 as soon as the stock goes up to ₹380. Move the stop-loss further up to ₹380 and ₹400 when the price touches ₹390 and ₹410 respectively. Exit the long positions at ₹420.
(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)
Published on May 16, 2025