Piyush-Gupta

VOLTAS, ANOTHER BEAUTIFUL PRICE ACTION (CHART# 295)

Long
NSE:VOLTAS   VOLTAS LTD
3116 views
135
VOLTAS has closed at breakout level and looks bullish abv 582 (small hurdle at 587).
Looking at previous history of VOLTAS, this stock move well after confirmation of BO. So this should be on radar for next few days and if it sustain abv 582-87 then it should show good movement.

Price action trading is a process of using price to analyze stock possible movement. Keep your charts as simple as possible so that you keep focus on most important element on chart "PRICE".
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Piyush Gupta
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Comments

Piyush I've suscribed to your course! Nice chart as always.

If I may ask -why 582? Last highs from this chart comes at 580.2 (17th July) , 583.3 (5th Jun) and 587 (8th Jun). Have you seem something on another time frame or is that an averaged resistance level that you think is good?
+7 Reply
Piyush-Gupta designDemon
@designDemon, I picked 582 entirely based on daily chart and tired to find level where we have maximum crossovers (daily candle close, wicks etc). last close was 581 so anything little abv it is also one of the reason for this.
Reply
If market supports and volume comes , it will be good pick
+3 Reply
Piyush-Gupta nikhilvenkataraviteja
@nikhilvenkataraviteja, Yes volume is required but both last candle & previous to that (hammer) are bullish so hopeful that we will see good volume in coming days.
Reply
Great analysis. Definitely would be on my watchlist. 👍🏻👍🏻
+3 Reply
@KetanM, thanks brother
Reply
@Piyush-Gupta awesome chart sir. Always learned a lot from you. After a very good June month, we had many super chart analysis like Mphasis,hindpetro, wipro and M&M, now Voltas in queue😊 2 more weeks and hoping to end July with few more awesome charts from you.
+3 Reply
Piyush-Gupta SairamParamasivam
@SairamParamasivam, I am glad to know that you are benefitted and learning.
Let's finish July strong as well
+1 Reply
Ok
+1 Reply
Piyush ji, your levels are awesome..you have given me the confidence of trading..god bless you, sir.
+1 Reply
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