VOLTAS trade ideas
Voltas - Cup and Handle formation on daily chartVoltas hit an all time high of 1132 on 12-Feb-21 and corrected till 920 levels and have retraced from those level and hit 1130 4-Jun. This completed the cup formation and then started the handle formation. Yesterday it had completed handle pattern also and have given breakout today. Stock is poised to touch new life time high.
This chart analysis is for learning purpose only. Kindly do your research before taking any position.
VOLTAS ON THE VERGE OF BREAKOUT VOLTAS HAS BROKEN THE TRENDLINE AND IS GOING UP TAKING SUPPORT AROUND 1030. WE CAN ENTER VOLTAS FOR THE FIRST TARGET OF 1120-30 WHICH WILL BE A LIFETIME HIGH FOR THE STOCK WITH A STOPLOSS OF 101 WHICH WILL GIVE A GOOD RISK TO REWARD OF 1:2. SO IT IS A GREAT TIME TO ENTER INTO THIS STOCK.
VOLTAS LONG AT CMP - TARGET 1070, SL 980VOLTAS currently trading at 1015 is at both fibonacci support and also previous support zone. Buy 50% of the position at 1015 remaining 50% if dip comes to 1000 , SL is 980 on closing basis.
The idea is for trading in cash segment with defined risk. Qty should be adjusted based on risk specified.
PS: The idea is purely for educational and research purpose, I am not sebi registered advisor.