If we look at the chart of voltas we can see that, its in trend changing mode now, and even shown a good move in last 3 months period.
as per the technical chart we can see that it has already given a “POSITIVE CONVERGENCE” signal at bottom levels with RSI and same was confirm at 70-75 range, so one who is invested at that level and still hold your investment assuming stop loss near 70.
with the present chart we can see that it has complited the “ROUNDED BOTTOM” pattern moving above recent high levels of 86 and 97.
if we look into the near term recent move of stock we can see that it made to the overbought zone in RSI but price not able to move below the trend-line support level and price again picked up to recent high.
with the RSI development as present, we can see that its still not moved into the overbought zone yet, and price trading at high level, so its kind of “BULLISH POSITIVE DIVERGENCE” developed on chart now, where rsi still have scope for up move, and that will be fulfill buy price action.
so one can buy VOLTAS above 100 if close then hold delivery for target of rs. 115-135 sl keep at 85.
as per the upper move one can keep rising sl’s near to cost for safe investment.
one thing we can assume for now is, at present we are looking for short term move in stock, but if price sustain in coming days also then we can even see more bigger targets in this stock if it not able to give any upper reversal signal’s on charts.