Technical Analysis Voltas Limited.

The stock

is currently trading at 1258.90 and has just formed a very bearish daily candle dropping nearly 5%. After an attempt to recover towards the 1500 level earlier this year, the stock is once again facing aggressive selling pressure. The short-term structure is weak and forming lower highs. Major Support the most crucial zone to watch right now is between 1180 and 1200. Looking at the historical price action on your chart the stock has taken strong support and bounced from this exact area multiple times. Immediate Resistance if the stock tries to bounce it will face initial resistance around the 1350 level. The major overhead resistance remains near the recent swing high of 1500 - 1550. short-term buyers it is safer to wait for the stock to stabilize near the 1180–1200 support zone rather than catching a falling knife. Holders should strictly monitor this 1200 level as a breakdown could lead to further downside while a bounce might face resistance at 1350. Since the company is expected to announce its earnings soon expect high volatility and avoid fresh positions until the trend becomes clearer. Technical analysis is based on historical patterns and does not guarantee future results. Always use a Stop-Loss to manage your risk.