ABFRL at 38.2% Fib and bullish divergenceABFRL is currently trading at 38.2% fib ret of last up move and bullish rsi divergence can be seen on hourly chart.
Go long with strict SL of 175.
ABFRL trade ideas
ABFRLPoised beautifully to give a good breakout on a long term scale! Can it finally move out of its congestion range of 180-190 range and start making new highs? Time will tell.. A good SL for this script shall be 178 on closing basis
Aditya Birla Fashions: Nice PullbackNotice the pull back to the prior selling / breakout zone, represented by the top two horizontal red lines. Price has come back to retest or check for sellers. Notice the dip in volume in the last couple of trading sessions which represents the probe or retest.
If my assessment is right, price is likely to breakout soon. A move past 186 would be an interesting outcome to look forward to. Let's wait and watch
Aditya Birla Fashion: Nice Wyckoff Case StudyAs highlighted in the chart, price has completed a Wyckoff Accumulation phase. Breakout from the range with higher volumes indicate the start of Mark-Up phase.
Watch this stock.
Aditya Birla Fashions: Major Accumulation, Awaiting Mark-UpThis stock appears to be in a Wyckoff Accumulation zone. A swift breakout past the top of the range at 171 would be a big positive development. Am watching this stock with interest...
Aditya Birla Retail verge of BreakoutStock near its TL resistance and having inv H&S pattern... If tomorrow crosses the Tl resistance with volumes , then aache din for the stock.
