FYI : Red Line refers to Monthly Trendline(TL) , Blue Line refers to Weekly Trendline(TL), Black Line refers to Daily Trendline (TL)
Aditya Birla Fashion and Retail Limited NSE:ABFRL is an Indian fashion retail company headquartered in Mumbai. ABFRL has a network of 3031+ stores with a presence across approximately 25,000 multi-brand outlets with 6,500+ point of sales in department stores across India.
1. Stock has been quite bullish for past some time ; Pre-covid line 2 was acting as a support but post-covid line 2 was acting as a resistance & once it broke it ,line 3 is acting as a support.
2. My take is that price will consolidate above 240 demand zone for some time before breaking previous ATH i.e. 313 approx. ; one can start building position here and add more when price crosses above 310-320 zone .
BUY @ CMP ; SL : 240 ; TGT : 400[\b]
Wishing you a Peaceful Trading - Gursahaj Singh
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