ABFRL is forming a bull flag with steady volumes. It has returned back to its long term rising channel which has been active since May 2020. Price is at a zone of significance and may show some sideways movement but its prepping to show and up move. Can be bought at CMP for a target of 224, 232 and 245. with a stoploss of 200. This is a good fashion stock anyone...
acceding triangle pattern in weekly timeframe. if break 230 with flow and high volume then the upsite is open till 280.
idea is for educational purpose only.
Looks like all the selling is getting absorbed
Even after so many shooting stars stock not ready to go down
May go higher levels if breaks abv 223/225
Expecting 250/270 in coming days
Grt R:R
View negated 210
NSE:ABFRL
Observations:
1)On Daily Time Frame: If we use FIB RETRACEMENT from recent swing then we can see that from 61.8% level it took support.
This level of 212-213 range is a support zone now. Sustainable Breakout of 216 level make it bullish again and we can see Target of 227-228.
Please refer below chart : Daily time frame.
2) On 15min time...
NSE:ABFRL
Observations:
1) On Daily Time frame you can see that it gave rounding bottom pattern breakout on 02-09-2021.
Please refer below chart : Daily time frame.
2)Also, on Daily Time frame you can see that it has critical level of 220 which was working as resistance many times before. For new buy entry this 220 level needs to be breakout.
And from...
Time:- 8 to 12 weeks
Target:- 255
Stoploss:- 195
By analysis of the chart of ABFRL, we can easily see that stock has already take support on the support line shown bull candles, RSI also at oversold position. So we can enter in this point.
1. ABFRL is currently moving in the channel pattern under weekly time frame
2. It is evident from the chart that it has taken multiple support and rejected multiple times at the resistance line
3. Right now it has hit the support line and we can expect a positive move toward the resistance line.
4. Good opportunity for swing trade till the resistance line
NSE:ABFRL
Today, 27-07-2021, it has broken the orange trendline and hit two targets above it.
Trade setup for 28-07-2021
It may come to test the 220 level or even till the orange trendline.
1) If it takes support from 220 level then it will be a buy trade. Targets are mentioned on the chart.
2) If it goes till orange trendline and takes support from it...
NSE:ABFRL
Today it worked as planned.
All 3 targets achieved.
Now from tomorrow all the same levels will work as support and resistance. Keep the trade on either side if one of the level break out or breakdown and you can keep the next target of next level in either up or down direction in trade.
Hope you had good trading in ABFRL.
Do comment if you have...
![ABFRL: Simple Trade Setup | ABFRL | 03-09-2021[INTRADAY & POSITIONAL]](https://s3.tradingview.com/c/c3DGFjpU_mid.png "Simple Trade Setup | ABFRL | 03-09-2021[INTRADAY & POSITIONAL]")
![ABFRL: All 3 targets achieved in Aditya Birla Fashion [ABFRL]](https://s3.tradingview.com/a/ARzjpUDo_mid.png "All 3 targets achieved in Aditya Birla Fashion [ABFRL]")
