May 04, 2017
Voltas (NSE Cash)
BUY
` 405
` 422 - 424
` 460
14 - 21 sessions
Daily Chart
Source: Falcon (Time: 09.45 IST)
Justification:
The stock has shown remarkable strength in last couple of years and is moving in uptrend by maintainaing ‘Higher Highs
Higher Lows’ on monthly chart. From last one month, the stock is moving in a sideways direction and managed to hold
’20 EMA’ on daily chart. Today, the stock is giving breakout from the consolidation phase with decent volumes. Further,
the ‘RSI’ oscillator has given ‘Positive Reversal’ on the daily chart and started moving higher. Considering the positive
placement of moving averages along with above mentioned technical evidences, we are expecting resumption of the
longer term uptrend in the counter. Thus, we advise traders to buy this stock at current levels to a decline up to `422
for a target of `460 over the next 14 - 21 sessions. The stop loss should be fixed at `405.
Jay Kumar Purohit
022-3935 7600 Extn: 6844
[email protected]
1
May 04, 2017
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Source: Angel Research
Research Team Tel: 022 - 4000 3600
Website: www.angelbroking.com
Email: [email protected]
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