VOLTAS trade ideas
Voltas - Trendline BreakoutNSE:VOLTAS already given on Jan 3, 2021.
It moved from 834 to 910, almost 9% in 5 trading sessions.
And now it gave another breakout at major trendline.
I personally think that it will pullback and move upside.
** Always do your own analysis before taking any trades...
VOLTAS gives a Clear Breakout: A good buyOne can consider buying Voltas as it has given clear breakout from it's previous important
resistance. The stock has also started performing well when compared to NIFTY 50.
Keep Stop loss at 690 and Buy for 1st target (or profit booking zone) of 850 and 2nd target of 890.
Voltas | Butterfly Pattern | Interim pattern| HourlyNSE:VOLTAS
Interim pattern.
Buy above 829 till 865.
VOLTAS due for CORRECTION or NEXT LEG UPVOLTAS is making a rising wedge pattern.
The obvious move will be a break down of the wedge as suggested by the Divergence on RSI.
Since price is moving up but momentum is slowing, a correction is expected.
This is a short term market move and post a 3-5% correction, stock will continue it's uptrend or go into consolidation.
Short below 820.
Target 1- 800
Target 2- 784
STOP- 830
NOTE:- Trade at your own risk.
VOLTAS Channel breakout NSE:VOLTAS All the levels are mentioned in the chart. Can move towards 850/900++... 800 can be psychological stoploss...
Note:
1. Views are personal. Recheck and take the trade as per your RR.
2. Always remember SL is your lifeline not the big target...
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VoltasAll level mentioned on chart.
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Rising wedge in Voltas!A rising wedge pattern has formed in Voltas, making it bearish. One can go short below 806 and expect 796 and 784 levels to be tested again in the days to come.
