VOLTAS trade ideas
Intraday Trade: range breakout done buy above highbuy above 1140 in Intraday
For stoploss in Intraday use 5 minute chart and see nearest support.
for target use 5 min chart and fibonacci pivots as i don't keep predefined target.
try to book partially and trail.
Note: this is not a prediction for LONG/SHORT, trade will trigger only on given level as per technical analysis
NOTE: For Gapup or bo before 9:20
If gapup is more than 1% from bo level than avoid completely.
if less than 1% or gives bo before 9:20 than wait for
first 5 minute candle and entry above 5 minute candle
and revised SL below candle Low.
#VOLTAS wait for breakout There is high probability that this time resistance will break
1 resistance is weak it has resist 2 time before and price is moving fast
2 increasing high volume from last 2 to 3 there is high volume
buy at the break out sl should be the low of the break out candle and tg- 1:2
How multiple confirmation can lead to a high probability setup!The stock has been trading in the range for past 200+ days and has started to show the signs of strength and these are:
1. A quick bounce from the support taking out the short term resistance of 1070.
2. Volumes have stated to increase showing the bullish sentiment among buyers.
3. The gap between 21-day and 50-day EMA has been reducing.
Why this time the breakout can be successful?
1. Resistance has become week as being tested multiple times.
2. A rapid recovery from the lows that too with large volumes.
3. By the time the stock reaches resistance EMA may complete the crossover which further adds odds in our favour.
Possible Scenerios during a breakout:
Scenerio No. 1. Break and retest: Here, in this scenerio stock does not wait near the resistance rather quickly takes out the resistance and comes back for the retest and when it breaks the High of the BO or alert candle a buy SL-M shall be waiting for your entry into the stock and SL shall be placed just below the recent low the stock has established.
Scenerio No. 2. Halt near the resistance: In this case the stock may conslidate near the resistance for a few days in a very tight range, which is a typical case of high reward low risk strategy. Here entry can be made as soon as the stock crosses the narrow consolidation near the resistance and the SL just under the same narrow range shall be placed.
VOLTAS Share Trend Analysis by THE DECISIVEVoltas is engage in business of Air conditioning, refrigeration & electro-Mechanical Projects & having Market cap of Rs. 32500 CR. Company is almost debt free & having healthy dividend payout background.
On Daily time frame it is taking strong reversal & moving towards previous high. Expecting a good movement here onwards.
Follow THE DECISIVE because WE HELP YOU TO DECIDE!
We will be happy to know if you would like to learn more on Fundamental & Technical analysis.
This was just for educational purpose only & not recommending to BUY/SELL of any Script.
Simple Trade Setup | Voltas | 02-09-2021[positional & intraday]NSE:VOLTAS
Observations:
1) On Daily Time frame you can see that it has taken good support from 1010 level and blasted from it with good bullish candle.
Please refer below chart : Daily time frame.
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For POSITIONAL trade one can take long position from CMP as well as any dip above 1010 level will be good buying opportunity. SL will be 990.
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Trade Setup for Date 02-09-2021:
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level tomorrow.
Please refer below chart for levels.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.