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Published on 12/10/2018 4:51:10 PM | Source: Choice Broking Pvt Ltd

Buy Voltas Ltd For Target Rs.549 .00 - Choice Broking

Posted in Broking Firm Views - Short Term Report| #Voltas Ltd. #Capital Goods Sector #Trading Report #Choice Broking

*  On a Monthly Chart, the stock has taken a strong support from it’s horizontal line which indicates a northward movement in the counter.

*  On a weekly chart, after giving a brief correction from its all-time high level, the stock has halted its downside move at 480 level which is 50% Retracement of its previous upside move from 283 level to 681 level which indicates that the stock could accelerate its upward movement

*  On an Hourly Chart, the stock has given break out of falling trend which suggests reversal in the counter.

*  A daily momentum indicator RSI reading is at 39 level with a positive crossover which points out for a positive breath.

*  Based on the above technical structure, we are expecting an upside movement in the counter in few trading sessions.

 

Recommendation

Buy Voltas Ltd OCT Fut CMP 510 UPTO 508 Stoploss 488 Target 549

 

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