VOLTAS BEARISH FLAG SELL
"VOLTAS LTD (NSE: VOLTAS) is showing a potential bearish pattern on the 30-minute timeframe. After a significant downtrend, the stock formed a rising wedge pattern, which is typically considered a bearish continuation pattern.
Key observations:
A sharp decline from around 1910 to 1840 levels.
Formation of a rising wedge pattern, characterized by higher lows and higher highs, but with converging trendlines.
The stock price has just broken below the lower trendline of the wedge, suggesting a potential continuation of the downtrend.
The breakdown from the rising wedge suggests a possible bearish move. The next significant support level appears to be around 1836.05, which is marked as the 'Low' on the chart.
Key observations:
A sharp decline from around 1910 to 1840 levels.
Formation of a rising wedge pattern, characterized by higher lows and higher highs, but with converging trendlines.
The stock price has just broken below the lower trendline of the wedge, suggesting a potential continuation of the downtrend.
The breakdown from the rising wedge suggests a possible bearish move. The next significant support level appears to be around 1836.05, which is marked as the 'Low' on the chart.
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