Buy Voltas for target of Rs 258-266: Aditya Birla Money
Aditya Birla Money is of the view Voltas charts are indicate a potential upmove from current levels. It has advised to buy the stock for target of Rs 258-266.
By ET Bureau |
MUMBAI: Aditya Birla Money is of the view Voltas charts are indicate a potential upmove from current levels. It has advised to buy the stock for target of Rs 258-266.
“Voltas has been creating higher top higher bottom with white candle with good volumes on the daily chart over the last couple of trading sessions. It signals buying momentum in the stock.
The daily RSI is already in strong buy mode as trading above 50 levels on both daily and weekly chart, indicating that the prices are set to rally from the current levels.
The chart structure looks positive and Monday volumes were encouraging. Any move above Rs 249 levels could bring good buying back into action and could see the stock testing Rs 258 and Rs 266 levels. On the downside, the support level for Voltas is seen at Rs 242 and Rs 236 levels,” the report said.
“Voltas has been creating higher top higher bottom with white candle with good volumes on the daily chart over the last couple of trading sessions. It signals buying momentum in the stock.
The daily RSI is already in strong buy mode as trading above 50 levels on both daily and weekly chart, indicating that the prices are set to rally from the current levels.
The chart structure looks positive and Monday volumes were encouraging. Any move above Rs 249 levels could bring good buying back into action and could see the stock testing Rs 258 and Rs 266 levels. On the downside, the support level for Voltas is seen at Rs 242 and Rs 236 levels,” the report said.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
ADVERTISEMENT
