TradingSutra

VOLTAS : A flat Correction

Short
NSE:VOLTAS   VOLTAS LTD
From the highs of 1125 made in june 2021 , stock had given a fall to 984 levels & then rebound in a choppy manner to the level of 1080. Right from there we have seen an impulsive fall & stock has broken the support zone of 1000. This level will act as resistance & stock will likely to fall further and will reach to the zone of 940-20 again.

One should short voltas in the zone of 1000-1010 with sl of 1040 and look for the target of 950/920
Manish Bhardwaj
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Comments

for Flat correction, check wave count for C of Flat !!
Reply
TradingSutra MohitArora
@MohitArora, Actually its a zig-zag, can take form of a FLAT ! C can transform in a diagonal ! The title is FLAT in an anticipation that prices will hold 920 zone & can transform into a diagonal ! Count is not important, voltas is going down that's imp.
+1 Reply