ABNUVO - Aiming for Weekly HighsThe 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
ADITYA BIRLA NUVO MAY CORRECT TO 1345ABNUVO may correct to 1345 to resume upward journey...
what is your view ?
Abirlanuvo very good company with a target of 1450 in coming dayABIRLANUVO 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.
AbirlaNuvo Breaking Down?AbirlaNuvo is potentially breaking down and would go lower for target of around 1250.
Big Players are OUT and New Big Players are getting INWith 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 high.
Advised to make long position after merger which can be wealth creation.
Happy Trading
