Stock of the Day – Voltas

On the weekly charts, Voltas is still pretty much in bearish territory with the stock yet to cross above the highs it made in 2012. All time highs made in 2007 / 08 and 2011 remain pretty far away for even consideration.

But its on the daily charts, that we see some substantial action indicative of a change in trend. The stock is placed just below its short term resistance and a move above 130 should give a clear breakout on the medium term charts as well. Above 130, 155 is the next level of resistance for the stock.

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About Prashanth

Have been a full time participant in the stock markets since 1996. Run a Yahoo Group where focus is exclusively on discussions of the Indian Markets using Technical Analysis as the tool (groups.yahoo.com/group/technical-investor)
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