VOLTAS LTD
- As per previous report published on VOLTAS, stock will favor bulls as long as holds above its previous trend line resistance. So far stock touched its support and moving up. (Click here to see previous report published on VOLTAS LTD).
- Now as per graph no1 , Voltas is moving up from strong trend line support zone as shown above this will favor bulls and we can see some strength once stock closes above its recent made high @ 245.50.
- Intraday trading tips - Close watch once stock starts trading above 245.50 during trading hours, if holds above with volumes then intraday bulls action is expecting.
- Stock has also formed head and shoulder formation , this will favor bulls to take stock further up, Stock major indicator "RSI" is moving below 70 levels , as it is not in a overbought zone so upward space for bulls is still available as per RSI indicator.
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- If Voltas moved up further then will find next strong resistance around 263 its 161.8% fibonacci retracement as shown in image no3.
- Suggested Reading - FINOLEX CABLES moving in a range bound zone , sharp move expecting once it comes out from its range.
- As per graph no4, Voltas other trend indicator "MACD" and "Stochastic Oscillator" is moving in +ve zone and indiciates that stock can move up further from current levels, even Voltas is moving above 20 DMA, this indicator too favor bulls. Close Watch.
- Click here to see all the free trading reports (tips) published by us on VOLAS LTD.
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