Voltas Ltd - Elliott Wave Analysis

Voltas Ltd - Elliott Wave Analysis 📊
🎯 Target Zones Identified!

The Elliott Wave structure for Voltas suggests a potential Zig-Zag correction with alternating patterns leading towards critical support and resistance zones.

🔍 Key Highlights from the Chart:
1️⃣ Wave Structure in Progress:

Current price action aligns with an ongoing corrective phase, alternating between support at ₹1,641.35 and resistance at ₹1,821.30.
The chart confirms higher low formations, indicating buying interest around the lower boundary.
2️⃣ Momentum Indicators:

The stock is currently trading above the 50-day Moving Average, suggesting sustained positive momentum.
Significant buying volumes at key Fibonacci retracement levels highlight strong demand.
3️⃣ Next Potential Levels:

A breakout above ₹1,821.30 may confirm a bullish wave (Y) continuation towards ₹1,900+.
Failing to hold above ₹1,641.35 could signal further downside correction.
🚨 Risk Management Reminder:

Place stop-losses effectively below ₹1,600 to mitigate risks during volatile market phases.
🔥 Conclusion:
Voltas is demonstrating a clear Elliott Wave corrective pattern. Keep an eye on ₹1,821.30 for bullish breakout opportunities or ₹1,641.35 for critical support.

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