Voltas Limited (VOLTAS) Stock - Complete Technical Analysis - Nov 08, 2024

Voltas Limited Stock Analysis: Price Trends, Support & Resistance Levels Technical Analysis

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions. Voltas Limited (VOLTAS) is currently priced at 1,766, which reflects a mild drop of 9.20% from its 52-week high. On November 8, 2024, a spinning top candlestick pattern formed, signaling market indecision. The stock is hovering around neutral levels, with the Relative Strength Index (RSI) at 50.7, showing neither overbought nor oversold conditions. The Average Directional Index (ADX) at 21.89 points to a weak trend, indicating uncertainty in the stock's direction.

Short-term moving averages like the 10-period and 20-period suggest a slight bullish tilt, while the longer-term averages (50-period and 200-period) hint at caution, as the stock is trading below these levels. The MACD remains negative, which leans toward a bearish sentiment, but this could be subject to change if the price moves past 1,800. The Commodity Channel Index (CCI) of 6.81 suggests the stock is neither overextended nor in a strong trend, keeping it in a range-bound phase.

Support is evident around the 1,740-1,750 zone, with the November 7 low at 1,734 providing extra reinforcement. The resistance sits near 1,790-1,800, as the high from the same date touched 1,792.95. Volatility is moderate, indicated by the Average True Range (ATR), suggesting price swings in the near term. If the stock breaks above the resistance at 1,800 or below the support at 1,740, a stronger trend may follow. Until then, the stock appears to be consolidating.