MANYAVAR - Technical Analysis with Chart Patterns & Indicators

Last Updated Time : 19 Sept 25, 2:16 pm

Technical Rating: 3.4

Here’s a detailed technical analysis of Vedant Fashions Ltd (MANYAVAR)

📊 Trend Overview

Current Trend: The stock is in a short-term downtrend, with signs of weak consolidation near its 52-week low.

Price Action: Trading at ₹727, below both the 50-DMA (₹755) and 200-DMA (₹869), indicating persistent bearish pressure and lack of momentum.

📈 Momentum Indicators

RSI (42.4): In the lower neutral zone, leaning toward oversold. Suggests weak momentum and limited buying interest.

MACD (-8.59): Deeply negative, confirming bearish crossover and absence of reversal signals.

Volume: Current volume (1.68 lakh) is slightly above the 1-week average (1.48 lakh), indicating mild accumulation but not strong conviction.

📉 Moving Averages

Indicator Value (₹) Signal

50-DMA 755 Resistance

200-DMA 869 Resistance

Current Price 727 Below both DMAs

📌 Bollinger Bands

Price is near the lower band, suggesting oversold conditions and potential for a technical bounce.

However, momentum indicators do not yet confirm a reversal.

🧭 Support & Resistance Zones

Immediate Support: ₹710–₹720 zone

Major Support: ₹680–₹700 zone

Immediate Resistance: ₹755–₹770 zone

Major Resistance: ₹800–₹850, then ₹900+

🎯 Entry & Exit Zones

Optimal Entry: ₹710–₹725 (on stabilization with MACD flattening)

Exit Zone: ₹770–₹800 (first resistance), ₹850+ if momentum builds

🔍 Conclusion

MANYAVAR is currently reversing from its highs and showing signs of weak consolidation near support. RSI and MACD reflect bearish momentum, and price action below key moving averages confirms the downtrend. A bounce from ₹710 with volume and MACD flattening could signal a short-term recovery, but until then, caution is warranted.

Would you like a comparison with other apparel or retail stocks like TCNS Clothing or Aditya Birla Fashion?

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