Highest-Conviction Momentum Stock – Paresh Gordhandas Power Calls

Venky’s India has emerged as a high-conviction delivery candidate for the next four to six weeks. The stock closed at Rs. 1,709, with bullish trends across the short, medium and long term. Strong ADX, positive MACD, favourable RSI and firm support above all important moving averages indicate the potential for another upward move.

⭐⭐⭐⭐⭐ Venky’s Share Price Target

Venky’s Trade Setup

Should Investors Buy Venky’s Shares?

Yes. Venky’s can be accumulated on declines towards Rs. 1,655–1,685 for four-to-six-week targets of Rs. 1,796 and Rs. 1,894. Fresh breakout buying is advisable only above Rs. 1,763, with the stock’s 52-week high of Rs. 1,800 acting as the next confirmation level.

Venky’s advanced 3.68% in the latest session and is trading close to the upper Bollinger Band of Rs. 1,724.54. The stock is showing strong momentum without the kind of excessive short-term appreciation visible in many overheated counters. Its stochastic reading of 57.17 also suggests that conventional momentum has not reached an extreme level.

The stock has delivered:

• 3.64% return in one week
• 9.20% return in one month
• 25.39% return in three months
• 12.90% return in one year

Why Is Venky’s a High-Conviction Pick?

Venky’s is trading above its 20-day SMA of Rs. 1,586.39, 50-day SMA of Rs. 1,532.82 and 200-day SMA of Rs. 1,465.66. The orderly alignment of these averages confirms a well-established bullish trend rather than a temporary rebound.

RSI stands at 67.37, remaining within the preferred 56–68 momentum range. It is approaching the overbought threshold but does not yet signal an excessively overheated structure. Therefore, buying on a controlled decline is preferable to chasing the stock near resistance.

MACD is positive at 43.32, above its signal line of 33.64. The positive histogram of 9.67 confirms accelerating bullish momentum. ADX at 62.72 reflects an exceptionally powerful trend, while +DMI at 38.20 versus –DMI at only 6.41 shows that buyers remain firmly in control.

The latest volume of 1,84,656 shares supports improved participation. Parabolic SAR at Rs. 1,501.76, CCI at 99.83 and momentum at 144 provide further confirmation of the bullish price structure.

Venky’s Price Outlook

Immediate resistance is placed between Rs. 1,718 and Rs. 1,763. A sustained breakout above Rs. 1,763 could help the stock retest its 52-week high of Rs. 1,800. Crossing Rs. 1,800 with healthy volume may extend the rally towards Rs. 1,894, followed by Rs. 1,991.

On the downside, the first support zone is located at Rs. 1,682–1,655. The positional bullish structure remains intact above Rs. 1,600. A decisive closing breakdown below Rs. 1,600 would weaken the setup and could expose the stock to Rs. 1,504.

Paresh Gordhandas View

Venky’s offers a powerful four-to-six-week setup supported by bullish trends, positive MACD and exceptionally strong ADX. Accumulate on declines towards Rs. 1,655–1,685 or initiate fresh positions after a volume-backed breakout above Rs. 1,763. Targets are Rs. 1,894 and Rs. 1,991, while a strict stop loss should be maintained at Rs. 1,600.