Varun Beverages: From Parallel Channel to Symmetrical Triangle

On the monthly timeframe (right chart), Varun Beverages shows a classic Fibonacci retracement pullback to the 38.2% level after an extended rally.

>Shifting to the weekly timeframe (left chart), we observe:
-Parallel Channel during the earlier uptrend phase, reflecting a strong trending structure.
-A break of the uptrend that transitioned into a sideways phase.
-Formation of a Symmetrical Triangle – characterized by a sequence of lower highs and higher lows, creating a contraction pattern.

This multi‑timeframe view highlights how trends evolve from strong rallies, to corrections, and into consolidation structures.

⚠️ Disclaimer:
This post is for educational purposes only and is not financial advice.