Technical Analysis Voltas Limited.

The stock

is currently trading near 1464. After experiencing a sharp fall earlier Voltas has been going through a broad consolidation and recovery phase. It has recently started forming higher lows which indicates that buyers are slowly trying to regain control, but the momentum is still choppy. Resistance 1520 - 1560 Zone this is the main hurdle right now. The stock keeps facing selling pressure whenever it reaches this area. If it gives a daily close above 1560 with good volume it could be a strong setup for a swing trade. Support 1360 - 1380 Zone this is the immediate support level where the stock recently took a bounce. 1200 - 1240 Zone this is the major long-term support base. As long as the price stays above this level the overall structure is safe. For Short-Term Buyers it is best to wait right now as buying at the current price 1464 offers a poor risk-to-reward ratio. The safest play is to enter only if the stock gives a strong daily close above the 1560 resistance or if it dips and shows buying interest near the 1360 support. For Short-Term Buyers it is best to wait right now as buying at the current price 1464 offers a poor risk-to-reward ratio. The safest play is to enter only if the stock gives a strong daily close above the 1560 resistance or if it dips and shows buying interest near the 1360 support. Technical analysis is based on historical patterns and does not guarantee future results. Always use a Stop-Loss to manage your risk.