VOLTAS
Today we saw amazing recovery from the bottom level. And it closed in green.
But on daily time frame it still remains below 100DMA which is placed at 1009 level range. It will only safe to get new buy trade once 1010 level breakout.
Please refer below chart on daily time frame.
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Below is simple trade setup
Safe buy trade breakout of 1010 level and safe short trade below 995 level.
If it open gap up above 1010 level and try to get support from 1010 level then it will be entry for buy trade. But 15min candle should be required to take judgement.
But after gap up opening it breaks the 1010 level down then it will be short trade entry.
If it open minor gap down or flat in range of 997-1000 then better to wait to level break on either of the side. Also if it goes up and take resistance from 1010 level then it will be short trade entry.
Hope I made it easy to understand levels.
Do comment your chart or suggestion.
all the best.
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