Ashish Chaturmohta of Fortune Group told CNBC-TV18, "Voltas is continuously consolidating in a range between Rs 290 on upside and Rs 270 on downside. In last three trading sessions we have observed a good amount of long build up, despite weakness into the broader market. So clearly it is indicating that there is a lot of buying interest into the stock. Voltas has also formed a good inverted head and shoulder formation on the daily charts clearly indicating that we can see good amount of strength coming in the stock."
"At current level one can initiate a long position keeping a stop loss below Rs 288 and on the upside we can expect a target of Rs 310 which is also the stock's all time high level," he added.
Disclosure: Analyst does not have any personal holdings.
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