September 20, 2016
Voltas (NSE Cash)
386 - 389
5 - 10 Sessions
below the 70 mark
Source: Falcon (Chart Time: IST 10:00)
We have seen a decent rally in this stock in the recent past. However, since last couple of weeks, this stock has
been struggling around the 400 mark and has consolidated in a range with a mildly negative bias. In last two
days, the stock has given a modest bounce; but, if we look at the daily chart, the ‘Parabolic SAR’ indicator is in
a ‘Sell’ mode, indicating strong hurdle at
395. In addition, the ‘RSI-Smoothened’ has fallen below the 70
mark; which is likely to provide an impetus for the next down move. Going by these evidences, we expect this
stock to undergo some pain in the near term.
We advise traders to sell the stock at current levels and on a
bounce up to
389 for a target of
368 in next 5 - 10 sessions. The stop loss for the trade set-up can be kept
September 20, 2016
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Source: Angel Research
Research Team Tel: 022 - 4000 3600 (Extn. 6552) Website:
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