VOLTAS, ASCENDING TRINAGLE BREAKOUT (CHART# 339)
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
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Only way to succeed in stock market is by learning Price Action.
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