vanathi

Voltas - Rising wedge pattern!

Short
NSE:VOLTAS   VOLTAS LTD
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.

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