Enter Voltas, target Rs 330-335: Sameet Chavan

Sameet Chavan of Angel Broking told CNBC-TV18, "The broader chart structure of Rashtriya Chemicals and Fertilisers is not clear. If the stock has to turn positive with a medium-term to long-term perspective, first it has to move beyond Rs 53-54. As of now it is clearly sideways wherein the range would be Rs 53-54 on the upside and on the lower side Rs 46-45 has become a strong support. At this juncture, one can book out partial quantity, probably 50 percent quantity and then the balance quantity can be held by keeping a strict stop loss of Rs 44.""Looking at the overall chart structure of Voltas, it certainly looks good on weekly as well as monthly charts. One can park money beyond Rs 300. One can enter into Voltas for a target of Rs 330-335 and can then maintain a stop loss of Rs 280. So at this juncture, in RCF one can maintain partial quantity by keeping a stop loss of Rs 44 and balance investment can be parked in Voltas beyond Rs 300," he said.