On April 5, Varun Beverages shares rallied 4% intraday, hitting a record high of Rs 1,474 after worth Rs 60 crore plus shares changed hands in a block trade.

The stock witnessed an uptrend for the 4th straight session, mounting 8% in the four days. On April 3, it saw a breakout for a couple of months of consolidation range.

Around 4.31 lakh shares, equivalent to 0.1% of paid-up equity worth Rs 62.88 crore, they changed hands at an average price of Rs 1,457 per share.

At 1.23 pm, Varun shares traded at Rs 1,457 on the NSE, up 3% over the previous close.

The stock created a bullish candlestick pattern on the daily charts with above-average volumes.

The stock traded above all key moving averages (21, 50, 100 and 200-day EMA – exponential moving average), showing a positive sign.

Every month, it has maintained an upward journey for the 3rd consecutive month, showing higher highs and higher lows for the 2nd straight session. On a weekly scale, there was a robust bullish candlestick pattern formation for the 3rd day.

Even with today’s rally, the Bollinger Band expanded on both sides, and the stock traded in the upper band for the 10th straight session, indicating the continuous stock momentum.