Voltas can be a good and relatively safe pick for medium term positional trading.
Try to enter around 780 levels with a SL of below 740 DCB for minimum target of 920.
The analysis is done on Weekly TF hence price may take few weeks to few months in order to reach the targets. Trade setup is explained in image itself.
After breakout, a major resistance becomes major support.
When price reverses from major support and breaks above major resistance zone, it signals towards a major trend change towards upside.
The above analysis...
-public holding in 2017- 22%
-public holding in 2023- 15%
-highest ever sales (TTM) & capex underway
-losses from exceptional items may not impact in future
Voltas- Box breakout done for the target of 1120. Though it broke out, wait for the candle close above the blue line for safer entry.
Note: This is for educational purpose only and not a buy recommendation.
Stock is facing major resistance since more than one year at 920-925 zone, yesterday traded with good volume, any BO above 925 level will be good for stock till 1020 levels, volume need to increase.
Voltas taken support at 61.8 % of Fib retracement. This should be good accumulation point and should move further 38.2% and 23.6 % of Fib's
Good stock for buying at dip
This stock has been underperforming with below expectation results. But with the technical indicators turning positive, one can take a risky bet on this stock. On the technical indicator, MACD line is crossing over the Signal line on weekly charges. Further, 20 DEMA is crossing 200 DEMA on daily charts indicating bullish trend in the short run. Further, there is...
874.85 is the crucial level for Voltas as marked on the chart. Above it, game is on a major move is expected. But, do not get exited. Please the price settle above it then only we will take a call.
Disclaimer: I am not a SEBI Registered Analyst. Please consult your financial advisor before making any decision. I will not be responsible for any of your...
