Today we saw amazing recovery from the bottom level. And it closed in green.
But on daily time frame it still remains below 100DMA which is placed at 1009 level range. It will only safe to get new buy trade once 1010 level breakout.
Please refer below chart on daily time frame....
On 10-08-2021, on daily time frame it has broken and closed below 100DMA. 100DMA is placed at 1009 level range.
Please refer below daily chart.
Trade Setup for 11-08-2021.
Any Resistance at any level till 1009/1010 will be opportunity for short trade. VOLTAS will remain weak below 1009 level.
Today it gave clear view for bullish signal. As it was making bullish divergence by making lower low on price while RSI was making higher lows. Also it was taking good support from 1025 level. And it broke the trendline.
Here is the simple trade setup for 06-08-2021.
Chart and levels are easy to understand.
Do comment your doubt or...
In last two trading day, it made lower lows in chart while RSI made higher lows on 15min time frame. This could be the beginning of the RSI Bullish divergence.
Simple Trade Setup for 05-08-2021
1) For the safe buy trade it can be taken above 1044 level only. 1047 level will give a bit of resistance but need to judge price action at this level. If...
Take trade as per the values given in Fibonacci. always trail the stop loss. do your own analysis before taking trade
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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! :)
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