Voltas Ltd Positional Buy 18 Jun 2023As per my analysis, NSE:VOLTAS is ready to move again on upper side levels. 790-793 is best buy level with stop loss of 935 (-55 Points Risk). My expected upside target would be 834 (+44), 865 (+75) & 902 (+112). This could be low risk and reward opportunity.
Note: This is my personal analysis, only to learn stock market behavior. Thanks.
VOLTAS trade ideas
Support turned Resistance in VoltasVOLTAS weekly chart has exhibited a typical support turns resistance price behavior in the 920 zone. The stock took support in this zone in Apr'21 and again a couple of times in May'22. It finally left this zone toward the down side in Sep'22 only to bounce back against the 920 support zone six months later in Mar'23.
However, this time the 920 zone has turned out to be a resistance, a typical behavior in technical analysis, and the stock has fallen sharply from there.
The weight of the evidence now points toward further downside in the price.
Neat & Clean Breakout Seen in Voltas|this is going in sky.About Company:-
Voltas is engaged in the business of air conditioning, refrigeration, electro - mechanical projects as an EPC contractor both in domestic and international geographies (Middle East and Singapore) and engineering product services for mining, water management and treatment.
Technical @ Fundamental Analysis:-
We have seen falling trendline breakout in Voltas with huge Volume and MACD bullish crossover,,this all indicate a bullish momentum in Voltas..Price also got retested and move upward after breakout this is another positive indication. So now as we are getting this much positive signals from price action and indicators then definitely we can assume Voltas has taken U turn and now chances are very less to go down and make another low in recent time.
Market Cap
₹ 28,120 Cr.
Current Price
₹ 850
High / Low
₹ 1,348 / 737
Book Value
₹ 169
Dividend Yield
0.65 %
ROCE
13.0 %
ROE
9.62 %
Face Value
₹ 1.00
Debt
₹ 393 Cr.
EPS
₹ 5.25
PEG Ratio
-743
Promoter holding
30.3 %
Intrinsic Value
₹ 131
Pledged percentage
0.00 %
EVEBITDA
42.8
Company is almost debt free.
Company has been maintaining a healthy dividend payout of 31.1%
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VOLTAS Swing TradeVoltas recently broke a trendline.
And it has been a range for some months if it breaks and sustains above it we can go long.
I'm taking an entry at 825 SL 787.
Watch out for 200 EMA which can act as a resistance breaking that can be another confirmation of this swing trade.
if it takes rejection from the 200 EMA trail your SL or book your profits.
For more details refer to the image.
Comment below if you have any questions or queries.
Happy Trading !