Voltas Limited is an air conditioning and engineering company. The Company is engaged in room air conditioners, contract revenue, commercial refrigeration products and sale of services. The Company’s segments include Electro-mechanical Projects and Services; Engineering Products and Services; Unitary Cooling Products for Comfort and Commercial use, and Others. The Company is also engaged in the business of engineering product services for mining, water management and treatment.
SHORT TERM PERSPECTIVE
|Stop Loss (SL)||Rs.517|
|Time Horizon||2-4 Weeks|
Intermediate and Short term trends are up in this stock. After a sharp up move stock is witnessing some profit booking at upper level. Stock has formed double bottom formation on daily chart which is bullish in nature and after a moil correction stock is trying to reverse from previous breakout level placed near to 540. Stock has increasing volumes. A bullish RSI and MACD buy signal has emerged on the Daily chart. Increasing in volume and positive diversion from oscillator indicate that stock can move higher from current level so one can initiate a buy position between 545-550 with a stop loss of Rs. 517 (Closing Basis) for the target price of Rs 597- Rs.620.Time frame should be 2-4 weeks.
DISCLOSURE IN PURSUANCE OF SECTION 19 OF SEBI (RA) REGULATION 2014
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