Voltas - Positional Trades

Voltas made a bullish run from 100 DEMA to 200 DEMA in a day only to retrace back a little & is now perched beautifully just below the 200 DEMA & 50% FIB retracement level as shown on Chart.

Its a precarious level with both scenarios of break and rejection equally possible.
Volume & Momentum seem to favour a break upwards.
Pay attention to NIFTY trends and Volume before taking trades.

Positional Ideas:

Go Long above 590 for 605,620 with SL at 575
Short it below 565 for 550, 545 with SL at 575

P.S The levels mentioned are long term supports and resistance on monthly charts. I always prefer rounded-off values!

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Yorum:

Will exit above 600

Yorum:

Modified SL 600

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