VOLTAS has given ascending triangle breakout on Friday. Above 703, it can move further up and below are some key resistance areas to watch out.
1. Trend line from Feb (blue color) - 709-10
2. Year long resistance zone (yellow color) - 720-26
If VOLTAS manages to cross both these hurdles then it can move to new high. Friday's volume was also very good which was news based due to change in policy on refrigerant import.
Watch my other charts to understand simple price action used for all of the analysis. Keep your charts simple and free from lagging indicators.
Thanks
Piyush Gupta
1. Trend line from Feb (blue color) - 709-10
2. Year long resistance zone (yellow color) - 720-26
If VOLTAS manages to cross both these hurdles then it can move to new high. Friday's volume was also very good which was news based due to change in policy on refrigerant import.
Watch my other charts to understand simple price action used for all of the analysis. Keep your charts simple and free from lagging indicators.
Thanks
Piyush Gupta
All studies for for learning purpose only.
These are not trade recommendations
Not responsible for any profit or loss
These are not trade recommendations
Not responsible for any profit or loss
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.
All studies for for learning purpose only.
These are not trade recommendations
Not responsible for any profit or loss
These are not trade recommendations
Not responsible for any profit or loss
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.