VOLTAS : Exciting Bullish Pattern Alert! 🐂📈 Exciting Bullish Pattern Alert! 🐂
📊 Pattern: Ascending Triangle Pattern
📌 Symbol/Asset: VOLTAS
🔍 Description: Stock is in a Ascending Triangle Pattern.
Prices should cross 910-920 for further upside.
If stock not able to cross the resistance then we can see fall upto 770 levels.
👉 Disclosure: We are not SEBI registered analysts, this is not a buy or sell recommendation.
Voltas
voltas enters buy zoneThis is a contrarian call. Voltas has been languishing from highs of 1300 in feb 2022 to 800 now.
A three fan pattern had been formed in August and then it jumped from 800 levels to 900.
A three fan pattern is a bullish reversal pattern.
This pattern was formed earlier in BOB@40 and RBL@90. If it can hold stop loss of 740, Voltas can give good returns.
Dont forget we have festive season and year end discounts around the corner
Entry: 800-820
stl: 750
target1 : 920
targer 2: 1050
Disclaimer: I do own voltas and may exit when I see fit
VOlTAS Important levels to watch. 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.
in other case, if the stock takes support at the given level and bounces back it may reach towards the trendline resistance plotted on the chart. If the stock breaks out from the trendline resistance then we may expect the targets till next immediate resistance marked on the chart.
so watch the price action and keep the stock on radar.
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Disclaimer: This idea is just for educational purpose, please do your own research before initiating any trade.
Voltas dips 4%, nears 52-week lowVoltas 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 EPC contractor both in domestic and international geographies (Middle East and Singapore) and engineering product services for mining, water management and treatment, construction equipment’s and textile industry.
VOLTAS Chills down to its Major Support ??!!Chart patterns look optimal for a short trade in Voltas
Reasons
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 pattern, target amounts to the depth of the cup(nearly 100 points)
5. Target levels shown @ chart(horizontal dashed green lines)
6. Breakdown candle is more than 5 % and SL gets difficult to place....Safer SL can be day closing above 822
7. Lower low too formed increasing the probability of down move.
Even if you don't short, It's better not to go long now....
Let's wait & watch how it moves!!!
Note - Just sharing my view , not a tip nor advice!!!
VOLTAS PULLBACK (LONG TRADE ) NSE:VOLTAS
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 )
Voltas upcoming move prediction (19/06/23).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.
Either side movement can be seen in coming weeks. 2-3% move is expected on the both side, if the stock price start trading out side the consolidation zone.
On daily charts too, it has closed below both the moving averages and shown a upper wick rejection from the resistance zone which coinsides with 61.8 fibonnaci levels.
Support:- 778, 746
Resistance :- 825, 858
The stock can be bought on from long term prospect above 825 levels. Below the level, it can retest the lower levels which can give opportunity to accumulate stock at lower levels(near support levels).
Future and option trades can initiated once the stock start sustaining above/below the levels.
Positional and swing trades must be initiated with a holding time of 1-2 weeks. MA setup can be used for deciding Targets and SL.
The stock is forming a bearish pattern on the weekly charts, forming lower lows lower highs. To be in the trade for a long time use Option hedging(1 by 2 even or a put credit spread) or Future hedging
Wait for the price action near the levels before entering the trade.
Voltas - Short term BearishVoltas 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
WATCH OUT for VoltasVoltas is so far away from its ATH and it is in the process of forming abeautiful cup with handle.
On the break of the handle, the trendline and the 50ema will also be broken. If such a break is seen on high volume, a beautiful long position can be taken for a long term trade or even an INVESTMENT
Updating this early so people can be on the lookout for a wonderful opportunity
Points to Note:
1. Handle is showing a valid shakedown on low volume which is important as it is sort of a trap for sellers.
2. Handle is above the 10SMA and in the upper half of the cup
3. Voltas is at a considerable low from its ATH and such a powerful pattern at a low is a money minting machine
Keep It Simple
Summer is Coming : Voltas Ltd NSE:VOLTAS
Voltas Positional Pick
Technical:-
Voltas ltd has given some fake moves after the breakout of the falling wedge but it is not able to hold the shorts and bounced back above the pattern.
On 10th Feb it has given a strong range breakout with strong volumes,
we are planning to take entry upon breakout Retest so it can add more confluence. (entry in zone 830 -835)
the stop loss shall be below the breakout candles low on the daily timeframe (795).
the target levels are mentioned on the chart.
Fundamental:-
Voltas ltd is a manufacturer of electric appliances mainly cooling systems and it has made a good position in the market by providing high-quality products,
and the summer is already on its way so many new cooling systems will be installed in offices, homes, etc will boost Voltas Stock in the coming months.
this is only for educational purposes only.
Always trade with stop-loss.
I Hope you found this helpful.
Please like and comment.
Keep Learning,
Happy Trading!
Voltas: Both way movement possibleNSE:VOLTAS trade levels, in either way, is mentioned in the chart.
As RSI in 30m chart showing a small breakdown a uptrendline, may be little down is possible. Roughly 900-925 is the consolidation zone.
Volume is not there.
Checking the OI Data:
1. Max support: 900 (call unwinding and put addition happens)
2. Most interesting: at 920 roughly little more than those unwound calls are getting added.
Strongly feeling it will be range bound.
VOLTAS - Monthly chart study - Morning star pattern at supportThe analysis is done on Monthly TF hence price may take few weeks to Few months in order to reach the targets.
Trade setup is explained in image itself.
The above analysis is purely for educational purpose. Traders must do their own study & follow risk management before entering into any trade
Checkout my other ideas to understand how one can earn from stock markets with simple trade setups. Feel Free to comment below this or connect with me for any query or suggestion regarding this stock or Price Action Analysis.