Voltas
Voltas - Inverted Head and Shoulders Pattern1. Voltas has formed an inverted head and shoulders pattern
2. Stock is taking support at 50EMA in Daily timeframe
3. There has been pickup in volumes in the past three days
4. Stock is forming HH(Higher high) and HL(Higher low) in 1hr TF
5. Sales are expected to be better this quarter owing to onset of summer and it's peer LG has declared very good results
Target and Stop Loss level are mentioned in the chart
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VOLTAS Short Term BullishConsidering the extreme Summer conditions yet to come in India. Also the highlighted portion shows that the Stock is currently into consolidation phase. So with 10-20 Days time Horizon a target price of 1000 with stop Loss at 910. and for up to 3 months holding period we can se a rally up to 1100-1125 range by mid of July.
Voltas LtdDaily Chart Pattern
Positive Momentum
May Pull backed from Resistance turn Support
Can give good return in Short term
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VOLTASNote:
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Keep an eye ladies and gentlemen. Cheers and Happy Trading
VOLTAS | TRADING IN A RANGEAfter retracing upto 0.5 fibo level now its trying to cross the resistance zone.
But as per volume it looks weak to break the upper resistance level. So, Keep eye on volume activity during breakout.
If it break & sustain above the supply level then good to go long or it will get back to its channel again if it fails.