Ashish Chaturmohta
Voltas is in long-term uptrend forming higher tops higher bottom patterns. After the run-up from February low of Rs 553 to Rs 650 levels, for last one-month, the stock has been consolidating below Rs 650 levels and formed the short-term base.
MACD has given positive crossover with its average above neutral level of zero suggesting a change of trend from sideways to up. Thus, the stock can be bought at current level and on dips to Rs 640 with a stop loss below Rs 620 for target of Rs 700 levels.
Disclaimer: The author is Head Technical and Derivatives, Sanctum Wealth Management. The views and investment tips expressed by investment expert on Moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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