VOLTAS Weekly Elliot Wave Analysis
Continuing along the theme of Corona Virus stocks, this week Voltas. is next up in line.
It also remains very technical, and I think there could be a few more swings up before a longer term top is realized. Lets take a look at what they do as a company:
Voltas Limited is an Indian company specialising in air conditioning and cooling technology. The company is broadly structured into projects and products business. The projects business is divided into Domestic Projects Group and International Operations Business Group.
Voltas had an impressive Rally since inception. Also, the structure of this stock looks a lot better than many other plays I have covered so far.
With that said, the Elliott Wave view seems to be counting technically clean. Let’s take a look below at the WEEKLY view.
Voltas set all time highs in Feb 2020. From there Voltas had a clean impulse move down from 741 to 427.45 odd levels, (A) advance is currently underway.
Prices still have a bit more upside move till 571.05 to 603.25 odd levels.
As per weekly chart, the price can reach up til 571.05 level & then we can see a big correction in the price.
For long term Investors, I would Recommend to Buy around 386.30 to 470 odd levels.
VOLTAS
Continuing along the theme of Corona Virus stocks, this week Voltas. is next up in line.
It also remains very technical, and I think there could be a few more swings up before a longer term top is realized. Lets take a look at what they do as a company:
Voltas Limited is an Indian company specialising in air conditioning and cooling technology. The company is broadly structured into projects and products business. The projects business is divided into Domestic Projects Group and International Operations Business Group.
Voltas had an impressive Rally since inception. Also, the structure of this stock looks a lot better than many other plays I have covered so far.
With that said, the Elliott Wave view seems to be counting technically clean. Let’s take a look below at the WEEKLY view.
Voltas set all time highs in Feb 2020. From there Voltas had a clean impulse move down from 741 to 427.45 odd levels, (A) advance is currently underway.
Prices still have a bit more upside move till 571.05 to 603.25 odd levels.
As per weekly chart, the price can reach up til 571.05 level & then we can see a big correction in the price.
For long term Investors, I would Recommend to Buy around 386.30 to 470 odd levels.
VOLTAS
Elliott wave Analysis, All types of Asset classes are covered like, Indices, Stocks, Currencies and commodities.