AbanAban Will touch 288 soon.. and if close above 291 then target on screen 350-400 also possible in next 10-12 month.. now next 3 month target 288 then 320
ABAN trade ideas
ABAN OFFSHORE- LONG PossiblityWeekly chart of ABAN shows flag breakout.
Long position for around 2 months
Stop ~240
Tgt~ 300-305
Fantastic Breakout with Huge VolumeSELF EXPLANATORY CHART
Momentum or Swing Trade
Target 1- 280
Target 2- 300
SL 235
ABAN OFFSHORE- FLAG PATTERN BREAKOUT (BIG BUY)It is been observed that the price action is trending up, making new higher highs on weekly chart. It is also observed that price action breaks out from a rectangle shape flag pattern. (When the price action breaks out upward against the downward sloping rectangle consolidation pattern confirms a flag pattern breakout).
As per the flag pattern, the targets are marked by taking the measurement of preceding move before the flag consolidation and adding it after the breakout to achieve targets.
I shall be covering more about the flag pattern and its shape, breakout, targets, measurement in the next educational post which I shall be posting by this weekend. It will provide good understanding about the pattern.
ABAN - New Impulse Wave (Go Long) It is been observed that the price action trending up on daily chart and recently breaks out of downward correction channel on daily chart. Today, Nifty corrected on a big move but the price action in this doesn't change. Bulls are in control and dominance in current scenario. It has completed 8 Waves cycle and now moving onto a new impulse wave. It is a good time to get long in this one.
Target: 268
Stoploss: 220
