The stock of Voltas Ltd., which saw a decline in March, has reversed the downtrend in April. Notably, over the past week, it has witnessed a rally. By closing above ₹840 on Wednesday, the stock has confirmed a small double-top pattern in the daily chart indicates that the stock will extend the upside and according to the pattern, the upside potential is ₹870.
This can be achieved in one trading session and we expect the same on Thursday. Given the above conditions, one can consider buying the stock of Voltas for intraday on Thursday. That is, buy at the current level of ₹851 and buy more shares in case the price dips to ₹840. Place stop-loss at ₹830. Liquidate the longs when the price hits ₹870.
(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)
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