The price was forming a falling wedge pattern but broker out of the wedge and formed a Higher high. As can be seen from the current market structure, Voltas is in an uptrend. The price formed a hammer candle on the 200 moving average and bounced back. The 200 SMA has acted as good dynamic support in the past, as has been highlighted by the green circles.
Note: This is for educational purpose only.
Build up near resistance shows lack of selling pressure. Expecting a good bullish breakout once resistance is broken with good volume. RSI above 60 adds to the bullish momentum conviction.