Pritesh Mehta of IIFL feels that one may invest in Voltas from a long-term to medium-term perspective. "Above Rs 84-85 the stock could head towards the Rs 93-94 mark and maintain a stop loss at Rs 80," he adds.
Pritesh Mehta of IIFL told CNBC-TV18, "Voltas is one of the midcap counters which we are bullish from medium-term perspective. If one wants to takes a position from a long-term to medium-term horizon this particular stock is worth investing in."
"From Rs 96 levels it found support around Rs 80 and right now it is breaking out from a rectangular consolidation pattern. So, above Rs 84-85 the stock could head towards the Rs 93-94 mark and maintain a stop loss at Rs 80 for the same," he said.
The share touched its 52-week high Rs 138.50 and 52-week low Rs 73.25 on 27 September, 2012 and 22 March, 2013, respectively. Currently, it is trading 39.82 percent below its 52-week high and 13.79 percent above its 52-week low. Market capitalisation stands at Rs 2,757.92 crore.