The stock has today given a closing above previous weekly highs ( except for one more high ) .
The price action suggests the stock is seeing some good buying. ( hourly chart below ) .
Looks good for long at this level with small stoploss.
ABIRLANUVO perfect balance sheet company. The company will be in the correction mode now. One can buy it at the level of 1331 with the target of 1450 in coming days.
Even RSI is showing overbought as of now.
With the recent news of merger of adityabirla Nuvo - ABIRLANUVO and GRASIM sentiments are hurt. The Big Players are getting replaced with this decision. Both the stock will go down technically, however, the business model are similar and hence will help the company as a whole. Particularly Second quarter results or Half yearly result of the merged company will be...
