vanathi
Short

Voltas - Rising wedge pattern!

NSE:VOLTAS   VOLTAS LTD
303 15 10
Voltas is forming a rising wedge pattern. It has broken the lower line of the wedge indicating price is getting weak. Sell voltas below 388 with the stoploss of 393. Targets are 383, 380, 376 and 373. After 30 minutes of market opening the price should not trade above the upper line of the wedge . In that case this wedge pattern fails. Price should show weakness and we can enter trade when it closes below 388. Rising wedge is a bearish pattern that begins wide at the bottom and contracts as the price moves higher and the trading range narrows.
I think around 400 it has got very strong supply zone, let voltas give a try and cross 402 levels and close above 402 levels then we can go long on voltas or else let the price go below 380 levels which is 2nd previous swing low to take a shor call on it .

These are my personal view I might be
Right or may be wrong !!
Reply
vanathi TOP darshanisnowhere
@darshanisnowhere, Yes, everybody has different view...
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so planning to go short in fno
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vanathi TOP bearishbull1968
@bearishbull1968, Lets see how the price action moves on monday.
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vanati true strenth indicator is still not showing weakness, probably it need to wait another few days
Reply
vanathi TOP nalinakshi
@nalinakshi, May be...
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nalinakshi nalinakshi
@nalinakshi, you may be right too
Reply
vanathi TOP nalinakshi
@nalinakshi, We plan our trades, opening and first 30 mins will decide which direction the price move. Thank you for the comment :)
Reply
nalinakshi vanathi
@vanathi, i want to kow onething the chart what we publish if the price moves next day how to update the chart and idea?
please go throgh me sbin price action analysis and comment
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