Hello Traders, i have brought another analysis on a pattern breakout which called (Falling Trendline Breakout & Double Bottom Pattern Breakout). Well i have marked and written most of the things on chart, but still i am gonna to teach you here guy's about this pattern so if you see this next time, at least you guy's will be able to trade. So Let's start:-
Voltas Ltd is showing buying strength and forming Demand zone as marked. It has broken from the channel and now we can expect upside. It can generate good returns in short term or one hold for long term.
Voltas - Looking good
On daily time frame have good support.
Above 20 EMA
Supertrend also Bullish.
Inactive Below 745.
Good to Trade in cash and Futures
Enter in options only after breakout of 780.
For Education Purpose only
Voltas LTD is falling sharply past few days, Now it has come very close to the support region.
the immediate support and resistance levels are marked on the chart.
#support : 737
If the stock manages to close below the support level on daily closing basis, the stock may expect to test the next support level in few sessions which is marked on the chart at 680....
Voltas dips 4%, nears 52-week low on concerns of tepid growth in RAC biz
As per management, the Room Air Conditioner business did well in April, but Voltas saw below-expected volume growth in the key month of May due to unseasonal rain.
Voltas, part of the Tata Group, is engaged in the business of air conditioning, refrigeration, electromechanical projects as an...
Chart patterns look optimal for a short trade in Voltas
1. VOLTAS has been taking support at the its 10 YEAR OLD SUPPORT TRENDLINE (bright green line- from 2013 till now )
2. Right now, it is in its downswing move inside the channel pattern.
3. [b ]Inverted Cup & Handle pattern too formed and given BREAKDOWN today (27/04/23)
4. As per...
Reasons to go long :
1. Reversal from the golden reversal level of 61.8% fib level .
2. Trend Break + Retest Done
3.Very strong buying (bullish volume ) today (10-02-23).
4. Volume profile indicator showing no major resistance till 1000 lvl.
5. Q1-Q2 earning will increase ( summer months )
The stock has been consolidating in a descending triangle pattern and previously given huge targets after the consolidation phase.
It has shown a bearish moving average cross over on the weekly charts and has given a retest to the 20 EMA this week. There is a losing strength as per the RSI indicator though the market is trading above the previous low.
Voltas is in short/mid-term correction.
Wave 4 of ongoing Long term impulse is unfolding.
In the mid-term, ABC is unfolding with the current A wave going on in the very short term.
Retracement of 4 wave is marked with fib retracement.
The analysis is only for educational purposes. Please trade at your own risk
NSE:VOLTAS watch voltas above 817 if sustains above 817 then in coming weeks /months we can see voltas hit 900 zone while cruising through zones marked till 900 zone. if breaks below 790, then 770/741 zone will be good area for long term investment.
Voltas is showing early sign of higher bottom formation and may eventually give a double bottom breakout in coming weeks.
Stock is trading around 61% retracement level of Covid low to ATH run up and has previously given a falling wedge breakout around it in Jan.
After giving a decent run up from there it has retraced back and has now been at fibo support zone...