VOLTAS

Voltas, this stock has been consolidated in a parallel channel since October 2021, and now very first time it has closed just out of that same channel's top on daily time frame,
Also it has been closed above 20DMA from last 15 days and sustaining on same.
As per elliot wave structure we can assume that from the low of 8th March fresh impulse wave 1 started and on the 17th March wave 2 was started and completed on 28th March, So now possibly wave 3 is in unfolding phase.
RK's Magic indicator is also showing cloud impulse buy on daily chart, along with macd turned positive crossover on weekly chart.
Overall it looks good candidate to go long, at current levels or in dips ( if any ).
on the way up side 1457 is the level where wave 1 and wave 3 would be equal, and on the way down RK's stoploss line which is pegged at 1244, can be a good support level to watch out for in forth coming days.

Wave structure on daily also all key levels are mentioned on chart

macd positive crossover on weekly

macd positive on daily

rsi breakout and uptick on daily

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Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.