Voltas - Inverted Head and Shoulders Pattern
Updated
1. Voltas has formed an inverted head and shoulders pattern
2. Stock is taking support at 50EMA in Daily timeframe
3. There has been pickup in volumes in the past three days
4. Stock is forming HH(Higher high) and HL(Higher low) in 1hr TF
5. Sales are expected to be better this quarter owing to onset of summer and it's peer LG has declared very good results
Target and Stop Loss level are mentioned in the chart
Please like the post if you find it useful and leave your suggestions if any in the comments. Thank You.
Happy Trading!
2. Stock is taking support at 50EMA in Daily timeframe
3. There has been pickup in volumes in the past three days
4. Stock is forming HH(Higher high) and HL(Higher low) in 1hr TF
5. Sales are expected to be better this quarter owing to onset of summer and it's peer LG has declared very good results
Target and Stop Loss level are mentioned in the chart
Please like the post if you find it useful and leave your suggestions if any in the comments. Thank You.
Happy Trading!
Trade closed: stop reached
Nifty gapped down the following day due to second wave of COVID fears. Had high expectations for the stock to move up.
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