Voltas Limited (VOLTAS) Stock - Complete Technical Analysis - Nov 28, 2024

Voltas Stock Technical Analysis: Is a Rebound Coming Soon Key Support & Resistance Levels Explain

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 trading at 1,647.25, showing a 15.3% dip from its 52-week high of 1,944.9 and a significant 103.1% rise from its 52-week low of 811.15. The stock has demonstrated considerable volatility recently, with the latest close of 1,647.25 marking a small recovery from its recent low of 1,637.1 on November 28, 2024.

The technical indicators point towards a bearish trend in the short term. The stock is below its 10-day and 200-day EMAs, which suggests weak momentum. The RSI is at 38.42, indicating the stock is oversold and may be due for a potential reversal or consolidation. Additionally, the ADX of 15.55 suggests that the stock is lacking a strong directional trend at present.

The price action suggests that the stock could face resistance at the 1,675-1,680 range, while the immediate support is seen near 1,637, with the next key support at 1,544. Given that the RSI is in the oversold zone and other indicators like the CCI are bearish, there's a possibility of a rebound if the stock holds at these support levels. Traders should look for signs of a bounce at 1,637 and 1,544. A break below 1,544 would indicate a continuation of the downtrend, targeting the next support at 1,438.

In conclusion, keep an eye on the support zones between 1,637 and 1,544. A bounce from these levels could provide a buying opportunity, while failure to hold these levels could signal further downside.