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Observation

* Voltamp has been moving in a strong uptrend since March 2021 as it maintains the higher highs and higher lows formation.

* The stock sustained well after giving multi year breakout and has started to rally sharply.  The Stock has shown significant rise in the volumes post its breakout from the consolidated parallel channel.

* On the indicator front the RSI indicator plotted on weekly has sustained above 60. Where as prices confirming the prior trend.

* The stock has recently made a new all time high with a strong momentum.

Inference & Expectations

* Volumes Backs the prices in strong uptrend.

* Going ahead we expect the stock to move higher towards 2970 level.

* 2250 level will act as a major support on the downside.

Buy Voltamp Transformers Ltd CMP: Rs 2478 | Target: Rs 2883 (16%)| SL: Rs 2250

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