For the past few days, its Consolidating in a range. Making a Descending triangle pattern.
Now it may break downside. Let see tomorrow.
For me it looks bearish below 530
may fall up to 500-510
Shower some LIkes!! If it Helps! :)
Cup & Handle pattern on Daily Chart of Voltas
Entry 1 - 570,
Entry 2 - 586 on breakout
SL - 520
Target - 720
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Levels are mentioned on chart for Swing trading.
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Early entry: 550
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voltas descending triangle breakout happend on the up side expecting upside target marked on the chart
only for educational purpose
it can be a trap also desending triangle (bearish sign)
a gap pending below
TREND ANALYSIS & TRADE SETUP
Elliott Wave Analysis.
Follow Chart Instruction.
Do not be Hurry for entry.
Wait for Proper Entry Setup.
Buy/Sell with Best Risk Reward.
Educational Chart Only.
Wait for entry setup, if available then Long/short.
Reward is 5-8 Times
VOLTAS showing a clear pullback move on daily timeframe candle.
Preceding impulsive red candle with a large range followed by a small ranged green candle, hence trade the breakout of the pullback green candle in either direction.
Long above 559.1
Short below 544.9
Target 1% in either direction.
NOTE: Trade with confirmation of momentum & volume on lower...
Once Again Voltas share has been rejected by the Resistance zone as appearing in the chart. Now this can be short below the level of 545 for the next level of 535-531 for swing or intra day entry. As below this level stock will be trading the below 50 EMA. So add the stock in your watch list for further price action .
Always do trading as per your Reward to Risk...