Hi friends Good morning Sharing my swing trade idea on Voltas limited and probabily it is the last one for the year of 2023 mates, So as we can see that after making all time highs of 1350 levels all the way price came down 740 levels and it was almost a fall of 45% from all time highs levels. So now the observation is this that price seems to be bottmed out on this provided chart by making a double bottom formation and now by the clsoing of last week price breached (Breakout) strong resistance area from where it got rejected two times at the same price levels and formed a double too and as i mentioned above that by this breakout price breached that double top along with resistance area and some how it is seems a symmetrical triangle breakout too before it breached marked resistance area.
Retest entry-: 930-915 levels are looking good for a breakout retest entry guys although price retested it's breakout too one can check on daily time frame.
Target and risk management-: Stoploss and targets both i marked on published chart for clear and better understaning and transperency friends, Hope you like it !
This publication is meant for only learning purpose, it is not any kind of trading advice.
Best Regards- Amit
“Hope is a bogus emotion that only costs you money.” -Jim Cramer
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Hello traders, Price moving upwards nicely after published breakout with small gains of 2.5% so far. Want to share one technical update on daily chart and that is price breaching a strong resistance area on daily time frame chart which earlier was it's support and indicating for further upside momentum so now from here i assume that if it will close above this marked support/resistance line we can see continous upsides and will give strength to published breakout
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Hello traders and mates, so the price of Voltas's share reached 998 from 958 so far gained 4% after published breakout apart of this i want to share technical update for this that one resistance (968 levels) i shared in update above and after the breakout of that resistance price clearly made a base near to that resistance acting as support and consolidated in that range of 968 to 992 swing top after published breakout and now price is breaking swing top, so the point is this that is today it will close above swing high levels we can see a fresh momentum buildup in this stock and will give more strength to price friends
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Hello traders Good morning, Sharing trailing stop loss update for this Voltas trade idea and that so you can see that price reached to 1020 from 958 levels and gained 6.5% so far for this trade position so i decided to move my stop loss on cost price as a discipline trader and will wait for the marked targets on chart. This is last update for this publication before target now i will only update after the completion of any target mates unless something important happens to update anything. Trade worked very well for me and i am happy to share with this all of you, Thanks for wonderful support Cheers friends!
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As i told in update above that i will share only important update for this trade so now price reached to 1051 from 958 levels and gained 10% so far in trade position so now i will book my 50% of total trade as price is near to target one resistance and for rest position i will trail my stop loss on cost price as i wrote in update above. Trade doing good for me so far and happy to share this gains with all of you mates. Next update only on targets
Trade closed: target reached
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Target update-: Voltas reached target of 1066 from 958 levels, Trade worked good for me cheers mates, Taking resistance from resistance target so far by the day high i assume if close above target resistance soon it will reach to second mentioned target above
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Resistance Breakout--:: After completing target one as i updated target above now price is breaking target one resistance reached 1090 from 958 levels gained overall 14% so far, Sharing daily chart with a rejection view from resistance target one you can see it takes so many day to break that area indicating that identified resistance was too strong for target so now from here i assume that this resistance will work as strong support now and price can come towards that for support retest after this bullish move some how impacted by the good quarterly results posted yesterday of maybe in coming session there will some good announcements too for this consumer sector
Trade closed: target reached
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Target Update-: Final target of 1130 completed today form 958 gained 18% so far by this swing trade. Final target based on resistance so if it will close above it could be a fresh trade opportunity for me and will publish a new idea on Voltas if this will happen this publication is closed completely. Thanks for reading and supporting my idea mates.
@22c1ce63a869470e9434156a28836e Okay i replied for a same concern just below this thread you can read that it's my view hope that is useful
yashlohiya2014
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holding since the last highs! hoping for new highs now
AMIT-RAJAN
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@yashlohiya2014 Hope you will get your buying price and good gains after mate
kishandsygn
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please guide.. RSI on Daily chart appears above 90. I am holding Voltas 900 & 1000 Ce Jan Expiry.. will it consolidate before it jumps to your levels. Currently I am 40% in profit in Options Buy Call.
AMIT-RAJAN
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@kishandsygn Hi mate see i am not a big fan of rsi for taking profits or finding breakouts although i am using it very frequently on double tops or double bottoms, mostly we are saying above 80 it is overbought but it does not connect that asset price will crash maybe we can see some profit takings and bounce from fresh or old supports but in your case as you are in good gains and that is in options so i would like to suggest that you should decide any trailing stop loss on the basis of price or rsi so by this you can take some more gains in the exchange of some little part from standing profits, this is not a trade advice i am sharing for study purpose friend