Trading_hawk

Simple Trade Setup | VOLTAS | 06-08-2021

Long
NSE:VOLTAS   VOLTAS LTD
NSE:VOLTAS

Today it gave clear view for bullish signal. As it was making bullish divergence by making lower low on price while RSI was making higher lows. Also it was taking good support from 1025 level. And it broke the trendline.

Here is the simple trade setup for 06-08-2021.

Chart and levels are easy to understand.

Do comment your doubt or suggestion.

All the best.

Comments

Hi if you find difficulties in reading the write up then please zoom in and stretch the chart.
I don't understand why this happened that the write up on charts becomes small fonts.
+1 Reply
swathikonakanchi Trading_hawk
@Trading_hawk, Voltas reached your targets. Sir your view on UBL
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Trading_hawk swathikonakanchi
@swathikonakanchi, It has critical support at 1430. If it breaks down then there will be down move till 1420. But if it sustain then it will be a small upmove. But fresh buy entry only above 1450. And fresh sell trade will be below 1420.
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swathikonakanchi Trading_hawk
@Trading_hawk, Ok i have Aug furures at 1476 that why i have some concern the volumes are good
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Trading_hawk swathikonakanchi
@swathikonakanchi,
Today due to result day it was very volatile.

One interesting thing happened in last 15min candle is that it went down till 1035 level and took support and closed at 1047 level.
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swathikonakanchi swathikonakanchi
@Trading_hawk regarding UBL can i hold or exit i took aug futures at 1476
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Trading_hawk swathikonakanchi
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Whether it will goes up in coming days
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@nallujoy,

As I mentioned in below comment " As far as if it maintain the level of 1030 and taking support from it then it has bullish trend. But if it starts to trade below 1030 level then there will be again a downward moment."

But if you want to take fresh position on buy side then it will be better above 1050 level. And for fresh short position it will be below 1025.

And if you are having already buy side position then better to hold it and keep stop loss at 1025.
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Can it reach 1100 in next 2 3 trading sessions
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