vanathi

Voltas - Bearish Engulfing pattern

Short
NSE:VOLTAS   VOLTAS LTD
11
Price action of voltas daily chart shows bearish engulfing pattern formation at the critical resistance level . We can go for short at the price of 334 with targets 320 and 310. I wont enter this trade till nifty is bullish .
Comment: Voltas was having resistance around 348-351. Price reached 351 then formed a bearish pin bar, raising wedge pattern which is a indication of price reversal. Price fall to 320 and took support to bounce back.

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