ParamjitMahapatro

voltas is bullish in medium term.

NSE:VOLTAS   VOLTAS LTD
in monthly, voltas is in wave 3.

if we check the fractals of wave 3, then we have 2 scenarios.

1st scenario - wave ( iii             ) of of 3 going on.

2nd scenario - wave is going on. Here i considered mar - oct 2016 rise as 3 wave.

in either case, voltas got ew targets of 670+ , so every meaningful dip is a buy.



Note: this post is for educational purpose
Comment: price retested the horizontal support for couple of times, now it is moving up.
Comment: after re testing the horizontal support price moved up nicely ,



learning point - 1.support/resistance is not a level or line , its a zone,
2. patience and conviction required for wealth creation in stock market.
3. Patience and conviction is generated after lots and lots of follow up analysis.
Comment: cmp - 618, regular bearish divergence seen at horizontal resistance zone,
looks bearish
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