Sharing weekly chart of Adiya Birla fashion here price action seems that it is breaking almost one year consolidation from parallel channel resistance and 100 also on weekly chart so by these kind of charts we can learn that price want to comeback in uptrend by breaking long consolidation, from the bottom volume bars also encouraging me for going a long trade in...
BUY - ADITYA BIRLA RETAIL
CMP - Rs. 242
Target - 1: Rs. 287
Target - 2: Rs. 316
Target - 3: Rs. 350
.
Timeframe - 4 months - 10 months
.
Technicals - Harmonic Pattern, Moving Average
.
This is just a view by an expert analyst, please invest at your own risk.
.
Follow me for more!
The stock is making an ascending triangle pattern and testing an important support/resistance zone.
A daily/weekly close above 246.5 will confirm the breakout and continue bullish momentum in the stock.
This is not a BUY/SELL recommendation.
This idea is for educational purpose only.
Learn & Earn,
Dr. Tanya Kumar
ABFRL has been consolidating in a very tight range and has faced resistance at 240 levels. If this is taken out decisively next levels are very attractive. Stock has under performed vs other retail players and a catch up is possible.
ABFRL is steadily gaining momentum, fueled by increased trading activity in green candles. It also indicates a notable buying pressure, particularly evident from levels below 200. Anticipating a potential touch of the next Fibonacci levels in the weeks ahead.
The above information does not constitute investment/trading recommendation and it is purely for educational purpose. Please check the Strategy below...
SWING Trading Strategy:
Position is created, only upon stock closing above the entry price on day closing basis and is held on for 5-10 trading sessions for larger gains (5-10%)
INTRADAY Trading...
- ABFRL looks in a good location
- I would like to hold this until it fetches more 10%
- At the same time kindly start booking partials
- Do not become greedy Nifty will soon retrace
ABFRL Scalling up. After making Higher High, after Forming a Base made a Trend Continuation Pattern.
Trend and Targets are Intact.
Maintain your proper Sl
NSE: ABFRL is closing with a bullish swing reversal candle supported with volumes.
Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days.
The stock has been moving along the horizontal support for the past few days which is indicating demand.
One can look for a 8% to 13% gain on...
