VOLTAS LTD[cup&handle]

Jun 18

VOLTAS LTD (NSE), we see a clearer depiction of a potential "Cup and Handle" pattern, which is a bullish continuation pattern. Here’s a detailed analysis of the chart

Cup and Handle Pattern
- The chart shows a cup-shaped curve followed by a slight downward handle, indicating a bullish continuation pattern.
- The breakout from the handle signifies a potential upward move.


Target Levels
- **1st Target (1st TRG)**: The first target is around 1800 INR. This is a near-term resistance level where traders might consider taking partial profits.
- **2nd Target (2st TRG)**: The second target is around 2400 INR, which aligns with the measured move from the depth of the cup.

. Volume
- The volume shows an increase during the breakout, which supports the validity of the breakout and the continuation pattern.


Buy or Sell Considerations
Buy Consideration: If you are looking to buy, entering around the current price (1534.25 INR) or on a slight pullback to the breakout level would be ideal.
Sell Consideration:
- Partial sell or profit-taking around the 1st target (1800 INR).
- Full or additional sell around the 2nd target (2400 INR) if the stock shows signs of slowing down or reversing.


The Cup and Handle pattern indicates a bullish outlook with a strong potential for upward movement.
- Consider buying around the current level or on a pullback.

Always ensure to monitor the volume and market conditions, and use stop-loss orders to manage risk effectively.
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