Voltas has good support zone around 1035 - 990 and until this is holding we expect to see another upmove towards 1250 - 1300 zone.
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Voltas on the daily close has given a break out of the resistance zone around 1050-60.
It made a base around the 20 DEMA and given a nice move with good volumes.
Bullish entry can be made in the stock for positional trade for a ultimate level fo 1230.
Intraday entry with 1140 as target can be initiated and a stict SL should be kept as tomorrow is...
Voltas Ltd is showing buying strength and forming Demand zone as marked. It has broken from the channel and now we can expect upside. It can generate good returns in short term or one hold for long term.
Voltas LTD is falling sharply past few days, Now it has come very close to the support region.
the immediate support and resistance levels are marked on the chart.
#support : 737
If the stock manages to close below the support level on daily closing basis, the stock may expect to test the next support level in few sessions which is marked on the chart at 680....
Look Weak chart of Voltas. The chart is forming LL and LH. A very high probability that stock will breakdown the support area. can take short entry below 745 for the next level of 700-690-685 with SL of 770
The stock has been consolidating in a descending triangle pattern and previously given huge targets after the consolidation phase.
It has shown a bearish moving average cross over on the weekly charts and has given a retest to the 20 EMA this week. There is a losing strength as per the RSI indicator though the market is trading above the previous low.
NSE:VOLTAS watch voltas above 817 if sustains above 817 then in coming weeks /months we can see voltas hit 900 zone while cruising through zones marked till 900 zone. if breaks below 790, then 770/741 zone will be good area for long term investment.
Positive Breakout Second Resistance ( LTP > R2)
RSI indicating price strength
High Volume, High Gain
Company with Low Debt
Strong cash generating ability from core business -
Improving Cash Flow from operation for last 2 years
Book Value per share Improving for last 2 years
Company with Zero Promoter Pledge
Key highlights: 💡⚡
✅On 1D Time Frame Stock Showing Breakout of channel pattern .
✅ Strong bullish Candlestick Form on this timeframe.
✅It can give movement up to the Breakout target of 930.
✅Can Go long in this stock by placing a stop loss above 786.
✅ breakout this can give risk:reward upto 15%+
Volatas in trading in falling wedge, keep in watch list and buy after breakout. We will try to update the idea for upcoming moves.
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InvestPro India Team
Long Voltas above 990 for the huge target of 1050-1075 with the SL of 955-50.High probability trade setup.
1) Stock at a very high support level. Most of the time stock turns up from the same level.
2) RSI Indicator above 60 levels with positive divergences.
3) Crossing the 200 EMA along with the 50 EMA moving average.
4) Entry point only after the BO of Trend...
1. Voltas respecting 21 EMA
2. An unfilled Gap stays at 1040 and has a tremendous confluence of downwards trendline, gap area, and a 50% retracement of the current downswing.
3. SL being 903 on a closing basis.
4. Buy on dips as near as 910-920 level