Voltas may touch Rs 319, says Sameet Chavan

Sameet Chavan, Technical Analyst at Angel Broking told CNBC-TV18, "Recently, we have seen an outperformance from Voltas. The stock recovered from the lower levels of Rs 260-265. It is now approaching its major resistance of Rs 300, but looking at the overall chart structure and ongoing momentum, we expect a breakout to happen soon. Thus, we have a target of Rs 319 on the stock and stoploss can be placed at Rs 283.""Our other buy recommendation is Adani Port. This stock is taking a support around its 2014 lows of Rs 240-242. We have seen a good traction today. The stock is managing to move beyond Rs 250. Considering the hourly chart structure and oversold condition of relative strength index (RSI) momentum oscillator, we expect this bounce to extend towards Rs 267 over the next few sessions and stoploss can be placed at Rs 239," he added.