VOLTAS LTDLong
Voltas Ltd - Elliott Wave Analysis
Voltas Ltd - Elliott Wave Analysis 📊
🎯 Target Zones Identified!
The Elliott Wave structure for Voltas suggests a potential Zig-Zag correction with alternating patterns leading towards critical support and resistance zones.
🔍 Key Highlights from the Chart:
1️⃣ Wave Structure in Progress:
Current price action aligns with an ongoing corrective phase, alternating between support at ₹1,641.35 and resistance at ₹1,821.30.
The chart confirms higher low formations, indicating buying interest around the lower boundary.
2️⃣ Momentum Indicators:
The stock is currently trading above the 50-day Moving Average, suggesting sustained positive momentum.
Significant buying volumes at key Fibonacci retracement levels highlight strong demand.
3️⃣ Next Potential Levels:
A breakout above ₹1,821.30 may confirm a bullish wave (Y) continuation towards ₹1,900+.
Failing to hold above ₹1,641.35 could signal further downside correction.
🚨 Risk Management Reminder:
Place stop-losses effectively below ₹1,600 to mitigate risks during volatile market phases.
🔥 Conclusion:
Voltas is demonstrating a clear Elliott Wave corrective pattern. Keep an eye on ₹1,821.30 for bullish breakout opportunities or ₹1,641.35 for critical support.
🔔 Follow us for actionable insights and updates on market movements! 🚀✨
🎯 Target Zones Identified!
The Elliott Wave structure for Voltas suggests a potential Zig-Zag correction with alternating patterns leading towards critical support and resistance zones.
🔍 Key Highlights from the Chart:
1️⃣ Wave Structure in Progress:
Current price action aligns with an ongoing corrective phase, alternating between support at ₹1,641.35 and resistance at ₹1,821.30.
The chart confirms higher low formations, indicating buying interest around the lower boundary.
2️⃣ Momentum Indicators:
The stock is currently trading above the 50-day Moving Average, suggesting sustained positive momentum.
Significant buying volumes at key Fibonacci retracement levels highlight strong demand.
3️⃣ Next Potential Levels:
A breakout above ₹1,821.30 may confirm a bullish wave (Y) continuation towards ₹1,900+.
Failing to hold above ₹1,641.35 could signal further downside correction.
🚨 Risk Management Reminder:
Place stop-losses effectively below ₹1,600 to mitigate risks during volatile market phases.
🔥 Conclusion:
Voltas is demonstrating a clear Elliott Wave corrective pattern. Keep an eye on ₹1,821.30 for bullish breakout opportunities or ₹1,641.35 for critical support.
🔔 Follow us for actionable insights and updates on market movements! 🚀✨
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.