praveen.bhatiya

VOLTAS Short 3 Drive Pattern

Short
NSE:VOLTAS   VOLTAS LTD
Beautiful 3 Drive pattern is developing in the stock so get ready to take advantage it. Short the stock on first sign of weakness by providing the suitable Stop Loss and enjoy the ride till the price range 345 - 341.
Trade closed: stop reached

Comments

Hi Praveen,

Is there any timeline for mentioned price range to reach....have shorted in the range of 384 to 386.
Any updates on this counter is highly appreciated.

Thanks, Shiva
Reply
praveen.bhatiya shivubandaru
@shivubandaru, I feel sorry to see that the trade is not moving as expected from the pattern. I too am stuck into this counter. Basically for this pattern the symmetry is important. At the time of identifying the pattern it was symmetrical i.e. equal number of days between 2 peaks, but it has not moved much since then and remained in the small price range. It has lost its symmetrical beauty so to me the pattern is invalid now, however I am continuing the short trade and look for the smaller target of 366 - 370 on the basis of hourly chart where it is showing divergence, has broken the trend line and retesting it from below. Let's hope it does not try to stop us before.

Reply
shivubandaru praveen.bhatiya
@praveen.bhatiya, Thank you for your quick update...will try to cover with small profit... :)
Reply
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