Voltas buy at CMP 1059 or correction that you might get around 1030 levels
Strong MACD signal , Blow 50Day moving average and about to bounce back.
If it drops it has a Strong support @1008 levels
Target 1080+ Short term
Both Earnings and Sales are rising well.
Voltas (Nse) has an operating revenue of Rs. 7,555.78 Cr. on a trailing 12-month basis. An annual revenue de-growth of -2% needs improvement, Pre-tax margin of 10% is healthy, ROE of 10% is good. The company is debt free and has a strong balance sheet enabling it to report stable earnings growth across business cycles.
Voltas trade for 2-3 months. Since this chart has taken dynamic support from the below trend line since long, so it will be difficult for it to go down. Also next month CPR is an ascending CPR so if the price sustains above the next month CPR and 200 EMA then once it breaks it swing high you can go long on it. But go long only after 1064 because if it breaks the...
In this video, we are going to witness the cup and handle chart pattern formation in daily chart of Voltas. Two probable scenarios were given.
Most probable scenario: A possible bullish breakout above 1120
Alternate scenario: Consolidation for some period
Minimal chances of a bearish movement.
