Voltas Limited is specialised in air conditioning and cooling technology.
Voltas stock price has long term positive trend. In its previous bull rally, the stock price surges 500 to 725 from Feb to Oct time frame in 2019.
Since its previous high of 725, the stock price remains sideways and it is now forming an inverted head and shoulder pattern on the chart whose right shoulder is in development.
The recent correction from 730 to 670 level forms Flag like a pattern that is again a continuation pattern. That has given breakout on the last trading session and closed above the resistance line.
On the daily chart, the stock price forms an aggressive bullish candle with a higher volume. The strong momentum seems to continue and may take off the immediate resistance of 730 in the coming time.
Stock to Buy Today:- Overall the price structure is looking positive, So buying on the current level and adding on dips at 690-695 for a price target of 760-800 with a strict stop loss of 650 on a closing basis.