Voltas Limited futures has bounced back from 23.60% retracement level on daily charts. Moreover, it is forming “symmetrical triangle” chart pattern on daily and weekly charts, which is considered to be bullish.
The 50-days DEMA of the stock on the daily charts is currently at 539.75 .In the previous days, Voltas Limited registered 2% gain and took a support of the lower line of pattern and also technical indicators MACD, RSI and KST are indicating towards positive movement in the upcoming days. Therefore, it is recommended to take a long positions in VOLTAS Jan Futures in between 540-541 for the targets of 546-550 with stop loss at 530.1.It is a pure intraday recommendation due to contract expiry day.
To check Stock to Watch : http://moneycapitalheight.blogspot.com/p/stocks-to-watch-today.html
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