The heat waves are running all over India, Voltas May be the beneficiary.
Please ignore the chart earlier published.
This chart is on weekly basis and with all counts in place.
Voltas something bad may is seen in the chart.
As per the Kennedy Channeling Technique the Support is coming at 521.
As per Elliott Wave, Fibonacci retracement for wave 2 is expected to come around 521.
There might be some unexpected news that may impact the price pattern of Voltas Ltd.
Regards
Voltas is likely to benefit from a robust demand outlook for unitary cooling products such as air conditioners, based on management commentary, Nomura analysts say in a research report. The home-appliance manufacturer seeks to grow ahead of the UCP industry, driven by higher penetration in the modern trade and e-commerce segments, new outlets and price...
the overall trend is in favour of bulls from last 3 months .
a long wick in feb suggest shorts been trapped at lower areas and going ahead,
expect strong upmove here and the previous all time high is
8-20% away which could get tested in next two quarters
TRADE CALL low risk high reward
Voltas
cmp 843
sl 795
target 912 : 970 : 1042 : 1120
in small range of 36 points if close above 843...then target 912
big range 912 to 745 which is 167 points if break 912 then rally of 162 points
Reason of taking trade fall from 912 to 745 but now fall from 912 to 806 can be reversal sign so risk reward is good...almost 1:2 for...
Voltas might give a possible up move with a decent stoploss.
Entry above - 1060- 1062
STOPLOSS - 1040
TARGET - 1125, 1150++
NOTE- if any trade or value that's gone from the marked levels then that's not our trade wait for it to come back or just let it go
I'm not sebi registered this is my personal view
Voltas has broke a long time resistance level with high price range supporting good volume increase, its a good risk to return ratio, can be a positional trade.
stop loss and target are as per shown in the picture.
It looks TRENDLINE Breakout , So basically trend has been changed Now any pullback will become Buying opportunity, Till 750-733 we can Add this in we should Place The Stops Below the recent Tested Structure and for safe side Below 700 ON DCB.(for positional)
So Ideal entry Point around 780 with Stops Below 730
for targets of
828,860,918
This will make this...
Daily chart, the stock is generally in uptrend direction with some tendency for correction to 985, then will rebound to 1090. Above this 1090-1100, the target will be 1338
Technical indicators RSI and MACD are supporting the correction action
Stop loss should be considered below 965
