Voltas is showing early sign of higher bottom formation and may eventually give a double bottom breakout in coming weeks.
Stock is trading around 61% retracement level of Covid low to ATH run up and has previously given a falling wedge breakout around it in Jan.
After giving a decent run up from there it has retraced back and has now been at fibo support zone along with a long term trendline support,
So a confluence of support zone.
In previous week it has made a inverted bullish pinbar and current weekly candle is showing a sign of reversal around it.
Overall setup looks quite spicy and is very similar to early higher bottom catch which I had shared some time back in Bajfinance.
Link to that idea is available in Related idea section.
Stock is trading around 61% retracement level of Covid low to ATH run up and has previously given a falling wedge breakout around it in Jan.
After giving a decent run up from there it has retraced back and has now been at fibo support zone along with a long term trendline support,
So a confluence of support zone.
In previous week it has made a inverted bullish pinbar and current weekly candle is showing a sign of reversal around it.
Overall setup looks quite spicy and is very similar to early higher bottom catch which I had shared some time back in Bajfinance.
Link to that idea is available in Related idea section.
Comment:
VOLTAS is now talk of the town :)
Comment:
VOLTAS 980++
Trade closed: target reached:
Voltas hits fresh ATH :)
