Varun Beverages Share Price: Due to rise in Nifty, Varun Beverages share price fell by 0.46%.
On the technical chart, the 200-DMA of the stock was Rs 1103.83 and the 50-DMA was Rs 1420.74. If a stock is trading above the 50-DMA and 200-DMA, this usually means the immediate trend is up. On the other hand, when a stock is trading below the 50-DMA and 200-DMA, it is considered to be in a bearish trend, while trading between these averages indicates that the stock could go in either direction.
The stock is trading below the momentum indicator moving average convergence divergence (MACD) signal line, indicating a bearish bias on the counter. MACD is known to indicate a trend reversal in a traded security or index. This is the difference between the 26-day exponential moving average and the 12-day exponential moving average. A 9-day exponential moving average, called a signal line, is plotted on top of the MACD to reflect “buy” or “sell” opportunities.
On the other hand, the stock’s relative strength index (RSI) is 45.38. Traditionally, a stock is considered overbought when its RSI value is above 70 and oversold when it is below 30. The stock’s return on equity (RoE) is 29.64% and return on capital employed (RoCE) is 17.72. RoCE is a financial ratio that determines the profitability of a company and the efficiency of its use of capital, while RoE is a measure of business profitability in relation to capital.
