Sunday, February 20, 2022

VOLTAS & LEMON TREE Good For 3-6 Months

Friends, nowadays the market is too volatile due to FIIs selling and the Russia-Ukraine crisis, so as per my advice we have to focus on positional or long term pics. If we look for it then we will not get panic. Avoid this panic-ness we have caught two stocks that look pretty on charts and the company can do better based on the summer season.

On Voltas chart, there is a clear picture that stock is in an uptrend and right now trading in a zone. The support level is 1130 and the resistance is 1325. The stock has again taken a U-turn from support levels with good volumes. Also, it has confirmed Bullish Engulf as well as Cup & Handle breakout on a weekly chart. I am bullish from the current levels and stock can reach 1325+ and immediate support is around 1190.

Summer has started so product demand will increase of Voltas and company can do better in coming two quarters.

Our next pic is Lemon Tree, the share price is trading around 50-51 rupees. The overall price trend is up and retested the support of 44. The stock has given breakout to the resistance of 50 and confirmed “Inverted H&S” + “Bullish Engulf”. The volumes are increased so we are expecting up moves till 58/60. Immediate support is around 45/46 which is the demand zone.

Lemon Tree is a hotel chain so business was not good from the pandemic. However, the stock price is in higher-high / higher-low and it is showing strength. The Indian government is going to unlock everything so now lots of chances of business gain. Also, summer has started and it is the vacation period so it will be a plus point for Lemon Tree.



Disclaimer: The contents produced here are purely for educational purposes. They should not be construed as buy/sell recommendations. I am not a SEBI registered Analyst or Investment Advisor. Readers are advised to consult their Investment advisor before taking any decisions based on the above write-up.