As per my wave analysis :
Short term : I believe prices should go up as per the Green Arrow and then will either go up further or will come down..
Medium term : Buy positions coming soon.. but get out at the top of the UP arrow as prices might fall big time from there.
Trade strategy for ABB India Ltd can be approached by 3 ways. Below are the ways mentioned,
1. Since 1620 is good resistance, shorts can be initiated at current levels with stops above previous traded high of 1640. Exit points can be either on i)Rising trendline level or ii)Support area between 1547 & 1567 or iii) 1505/10
2. If the stock breaks the above...
Hi All,
The stocks seems to be on verge of giving a multi year breakout.
In such scenarios stock normally zooms to 3x levels from the breakout ie around ~5000 in next 18 months.
Lets see if 1563 holds for the month.
Save my charts
Happy Investing
Bullish Shark pattern on 2H Chart of ABB. BUY 1492-1493, SL 1477.9, Target(s) - 1507, 1513.
I starting learning Harmonics some days ago and just observing currently, how the price action works here and thereby trying to refine on my Target(s), SL and entry levels.
Forecast as per wave analysis, fib and MTF.
On BO of the high, one can possibly look for a good BUY opportunity with very good RR.
This is not any recommendation, purely my opinion only.
ABB India Limited is an India-based company, which is engaged in power and automation business. The Company's segments include Power Systems, which offers turnkey systems and services for transmission and distributions for power grid and power plants; Power Products, which manufactures, engineers, supplies key components to transmit and distribute electricity; Process Automation, which provides customers with integrated solutions for control, plant optimization and industry specific application knowledge; Discrete Automation and Motion, which provides products, with related services, that are used as components in machinery and automation systems, and Low Voltage Products, which manufactures products and systems that provide protection, control and measurement for electrical installations, enclosures, switchboards, electronics and electromechanical devices for industrial machines, plants and related service. Its products include Flameproof motors and Frequency controlled motors.
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ABB
