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Veljan Denison (VELJAN) — Technical Setup
₹1,925.70 -2.00% Range Normal Volatility Strong bearish
Summary
Veljan Denison is in a range on the daily chart. RSI(14) is 30.2, MACD is below its signal line, ADX reads 33 (trending). Volume in the latest session was 1.0× its 20-day average. Over three months it has outperformed the Nifty 50 by 10.2 percentage points. Nearest support is ₹1,876.40 and resistance ₹1,942.00. Its technical score is 24/100 (strong bearish).
🧮 How the 24/100 is built
Five components, 20 points each. Every rule is shown with the points it earned — the score describes the chart as it stands today; it is not a prediction.
- Close above 20-day EMA (-9.58)0/3
- 20-day EMA above 50-day EMA3/3
- 50-day EMA above 200-day EMA0/3
- Close above 200-day SMA0/3
- SuperTrend (10,3) pointing up0/3
- ADX ≥ 20 with +DI above −DI (trend has strength) (33.40)0/3
- Weekly trend up (above a rising 30-week average)0/2
- RSI(14) in the bullish zone (55-70 best) (30.22)0/6
- MACD line above its signal line0/4
- MACD line above zero (-75.57)0/3
- 12-day rate of change positive (-15.07)0/3
- Stochastic %K above %D0/2
- Outperforming the Nifty 50 over 3 months (10.22)2/2
- On-balance volume rising over 20 sessions0/5
- Chaikin Money Flow (20) positive (0.70)5/5
- More volume on up days than down days (20 sessions) (0.04)0/5
- Close above 20-day VWAP (-20.45)0/5
- Daily range (ATR%) contained — ≤2.5% scores full (2.88)4/6
- Price in the upper half of its Bollinger Bands (0.16)0/5
- Shallow drawdown from the 52-week high (-31.00)1/5
- Volatility contracting (20-day volatility below its 6-month median) (1.70)4/4
- Room to the next resistance (≥8% scores full) (0.85)0/5
- Support close below (a tight, definable stop) (2.56)5/5
- Broke above a 20-day high in the last 5 sessions0/5
- Within 5% of the 52-week high (-31.00)0/5
🧭 Regime: Range
Normal Volatility — Bollinger width is in the 73th percentile of the last six months.
Suits: Mean reversion / range trading. No directional edge: buy near range support, sell near resistance, and treat breakouts with suspicion until volume confirms them.
Classified from ADX, the 20/50-day EMA stack and price's distance from the 50-day average; volatility from band-width and ATR expansion.
Opens the AI Backtester with the Bollinger Band Reversion rules for VELJAN — close below the lower bollinger band (20,2) while above the 200-day sma.
🕰️ Multi-timeframe
| Timeframe | Trend | RSI (14) | MACD hist. |
|---|---|---|---|
| Monthly | — | — | — |
| Weekly | — | — | — |
| Daily | ◆ Neutral | 30.22 | -42.47 |
Weekly: close vs a rising 30-week average (Weinstein). Monthly: close vs the 10-month average. Weekly SuperTrend: —, weekly ADX —.
📶 Volume & VWAP
VWAPs are computed from daily bars (typical price × volume), not intraday ticks. Volume has dried up to under 60% of normal.
💪 Relative strength
VELJAN ÷ Nifty 50, rebased to 100 a year ago. Rising = outperforming.
🧱 Support & resistance
Clustered swing highs and lows from the last year; “touches” is how many swings formed the level.
| Level | Price | Distance | Touches |
|---|---|---|---|
| Resistance | ₹2,790.70 | +44.9% | 1 |
| Resistance | ₹1,980.00 | +2.8% | 1 |
| Resistance | ₹1,942.00 | +0.8% | 1 |
| Close | ₹1,925.70 | — | |
| Support | ₹1,876.40 | −2.6% | 4 |
| Support | ₹1,765.10 | −8.3% | 1 |
| Support | ₹1,675.00 | −13.0% | 1 |
| Support | ₹1,329.80 | −30.9% | 1 |
52-week range: ₹812.00 – ₹2,790.70 (-31.00% from the high).
🌀 Fibonacci
Measuring the up-swing from ₹960.00 (2026-05-21) to ₹2,790.70 (2026-10-08). Price has retraced 47.2% of it.
| Ratio | Price | Distance | |
|---|---|---|---|
| 23.6% retracement | ₹2,358.65 | +22.5% | |
| 38.2% retracement | ₹2,091.37 | +8.6% | |
| 50.0% retracement | ₹1,875.35 | -2.6% | S/R confluence nearest |
| 61.8% retracement | ₹1,659.33 | -13.8% | S/R confluence |
| 78.6% retracement | ₹1,351.77 | -29.8% | |
| 127.2% extension | ₹3,288.65 | +70.8% | |
| 161.8% extension | ₹3,922.07 | +103.7% | |
| 200.0% extension | ₹4,621.40 | +140.0% |
🕯️ Candlesticks (last 5 sessions)
- Bearish Marubozu 2026-11-12 bearish Moderate · 50
Quality combines the pattern's reliability with its context: prior trend, volume, a support/resistance level and RSI.
↗️ Divergences
No regular divergence on RSI, MACD, OBV, MFI or Stochastic at the latest swings.
✅ Screens VELJAN passes today
| Stock | Close | Chg | Score | Trend regime | RS rating (1-99) |
|---|---|---|---|---|---|
| SONACOMSSona BLW Precision Forgings Limited | ₹926.00 | +0.11% | 90 | Strong Uptrend | 93.00 |
| SSWLSteel Strips Wheels Limited | ₹572.80 | +5.52% | 90 | Strong Uptrend | 98.00 |
| TVSMOTORTVS Motor Company Limited | ₹4,500.00 | -1.32% | 89 | Strong Uptrend | 79.00 |
| ATHERENERGAther Energy Limited | ₹1,923.00 | +2.93% | 88 | Strong Uptrend | 98.00 |
| BOSCHLTDBosch Limited | ₹50,500.00 | +0.02% | 87 | Strong Uptrend | 86.00 |
| BAJAJ-AUTOBajaj Auto Limited | ₹10,945.00 | -0.86% | 86 | Range | 69.00 |
| HARSHAHarsha Engineers International Limited | ₹463.90 | +1.28% | 85 | Uptrend | 78.00 |
| UNOMINDAUNO Minda Limited | ₹1,386.00 | +0.95% | 85 | Strong Uptrend | 76.00 |
| UCALUCAL LIMITED | ₹142.90 | -1.44% | 83 | Uptrend | 84.00 |
| PRICOLLTDPricol Limited | ₹733.75 | +1.85% | 82 | Range | 80.00 |
⚠️ Educational technical analysis computed automatically from end-of-day NSE prices — not investment advice. Flash Finance is not SEBI-registered. Indicators describe what price has done; they do not predict what it will do. Verify levels on a live chart and manage risk before acting.
