VIP Industries Analysis

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VIP Industries Limited shows a strong development within a rising trend channel. A further positive development is indicated, and there is support against the floor of the trend channel. Has given positive signal from a inverse head and shoulders formation by a break up through the resistance at 104. Further rise to 153 or more is signaled. The stock has broken up through the resistance at rupee 127. This predicts a further rise. In case of negative reactions, there will now be support at rupee 127. The volume balance is positive and strengthens the stock in the short term. The stock is overall assessed as technically positive for the long term.