VOLTAS Analysis
The chart provided is of VOLTAS LTD on a weekly time frame (1W) from TradingView, showing various price levels and targets based on Fibonacci retracement levels and projections. Here's a detailed analysis and summary:
Key Components:
1. Price Levels:
- Current price: 1,490.75
- High: 1,559.85
- Low: 1,481.95
- Close: 1,490.75
2. Fibonacci Retracement Levels:
- 0.618: 1,312.35
- 0.5: 1,205.05
- 0: 750.20
3. Target Levels:
- Target 1: 1,659.85
- Target 2: 2,222.05 (1.618 Fibonacci extension)
4. Significant Support and Resistance:
- Historical support around 750.20
- Significant resistance at the high around 1,559.85
- Perfect retracement noted historically, which acted as a support level.
Analysis:
- The stock has experienced a strong uptrend from the retracement level of 750.20 to its current level.
- The recent price action has breached the Fibonacci retracement levels of 0.5 and 0.618, indicating a bullish momentum.
- The first target is set at 1,659.85 , suggesting a potential continuation of the uptrend.
- The second target, based on the 1.618 Fibonacci extension, is projected at 2,222.05 .
Summary:
The chart for VOLTAS LTD indicates a strong bullish trend with potential upside targets at 1,659.85 and 2,222.05 . The stock has already surpassed key Fibonacci retracement levels, reinforcing the bullish outlook. The significant support level at 750.20 and historical retracement patterns provide a solid foundation for the current uptrend.
The price movement suggests that if the current resistance around 1,559.85 is decisively broken, the stock could aim for the targets mentioned above.
Key Components:
1. Price Levels:
- Current price: 1,490.75
- High: 1,559.85
- Low: 1,481.95
- Close: 1,490.75
2. Fibonacci Retracement Levels:
- 0.618: 1,312.35
- 0.5: 1,205.05
- 0: 750.20
3. Target Levels:
- Target 1: 1,659.85
- Target 2: 2,222.05 (1.618 Fibonacci extension)
4. Significant Support and Resistance:
- Historical support around 750.20
- Significant resistance at the high around 1,559.85
- Perfect retracement noted historically, which acted as a support level.
Analysis:
- The stock has experienced a strong uptrend from the retracement level of 750.20 to its current level.
- The recent price action has breached the Fibonacci retracement levels of 0.5 and 0.618, indicating a bullish momentum.
- The first target is set at 1,659.85 , suggesting a potential continuation of the uptrend.
- The second target, based on the 1.618 Fibonacci extension, is projected at 2,222.05 .
Summary:
The chart for VOLTAS LTD indicates a strong bullish trend with potential upside targets at 1,659.85 and 2,222.05 . The stock has already surpassed key Fibonacci retracement levels, reinforcing the bullish outlook. The significant support level at 750.20 and historical retracement patterns provide a solid foundation for the current uptrend.
The price movement suggests that if the current resistance around 1,559.85 is decisively broken, the stock could aim for the targets mentioned above.
Disclaimer
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