Voltas - Reversal Trade after Gap Filling Made a Base

VOLTAS today confirmed making a base and Sharp Reversal From it after Filling the gap formed on daily charts in April 2024, the MACD has Become Positive and is trending Upwards along with RSI Showing Strength after the CLSA Report on the Indian Summer Season.

It says India's warmest February in 124 years could spur a demand uptick in cooling product categories like air-conditioners, air-coolers, refrigerators and fans

The weather office has warned of further rise in temperature and heatwave days going ahead.

About:
VOLTAS is engaged in the business of air conditioning, refrigeration, and electro-mechanical projects as an EPC contractor both in domestic and international geographies (Middle East and Singapore) and engineering product services for mining, water management and treatment, construction equipment and textile industry.

VOLTAS was created 6 decades ago when Tata Sons joined hands with a Swiss company Volkart Brothers. Voltas is also one of the most reputed engineering solution providers specializing in project management. The company has 5,000+ Customer sites actively managed across India.

F&O Activity:
Shorts in the System Getting Covered with 1400 & 1420 CE OI being Shed.

Trade Setup:
Looks like a good 1:1 Risk - Reward Trade, may find some Resistance Towards 200 DSMA so Swing till there can be played, if sustained and even go further.

Target(Take Profit):
Around 200 DSMA for Swing Trade and around 1700-1706 for Positional Trader.

Stop Loss:
Entry Candle Low for Swing Traders and Swing Low Levels Marked for Positional Traders.

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Disclaimer: "I am not SEBI REGISTERED RESEARCH ANALYST AND INVESTMENT ADVISER."
This analysis is intended solely for informational and educational purposes only and should not be interpreted as financial advice. It is advisable to consult a qualified financial advisor or conduct thorough research before making investment decisions.