Voltas share price seems to be gearing up for a fresh rally. The stock has risen 2.6 per cent so far this week thereby outperforming the benchmark indices. Immediate resistance is at ₹927. But the chances are high for the stock to break above this resistance. Such a break will strengthen the bullish momentum and take Voltas stock price up to ₹1,000 over the next three-four weeks. Immediate support is in the ₹905-900 region. Below that ₹870 is the next strong support.
Traders can go long now. Accumulate on dips at ₹905. Stop-loss can be kept at ₹875. Trail the stop-loss up to ₹925 as soon as the stock moves up to ₹945. Move the stop-loss further up to ₹965 when the stock touches ₹980 on the upside. Exit the longs at ₹995.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)