Abbot India looks good on weekly chart by breaking a falling trendline resistance and gives a clean breakout (Triangle Breakout) on above that trendline with good volumes gives a breakout of Bollinger band indicator too so we can see bullish trend will continue in it for the target of 23988.
CAUSE OF LONG-:
1- Falling trendline breakout
2- Bollinger band...
Abbott India which was trading in the triangle formation has broken out with upper side momentum.
One can go long on this stock with target of 23800 in coming months
Overview:
Abbott India has accomplished the impulsive wave 3, and the price is forming corrective wave 4. Price has occurred the sub-wave A. and Sub-wave B. Sub-wave C of 4th wave is in progress.
After completion of wave 4, the price will start its bull run.
Fibonacci relationship and wave Formations:
Wave ((1)) is a five-wave impulse.
Wave ((2)) retraced ...
if the price break through in one one or two trading sessions then an upside of 14% is possible .it will reach 25600. a cup and handle formation can be seen
ABBOTT Looking good for upside..
When it break level 23032 and sustain.. it will go upside...
BUY@ 23032
Target
1st 23301
Enjoy trading traders.. Keep add this STOCK in your watch list..
Investor are welcome..
Since (2013) starting ABBOTT has complted Impluse wave (5wave). and touched 24000 level.
Note: 1)I am trying to analysis since 2013 & it has complted Impluse wave. and now in corrective mode.
2)It will be once again to be touched 24000 level or less (81% of previous wave) or more (101% of previous wave) or equal to previous high (24000).
3) now present is B...
Looks like the formation of cup and handle pattern in AbbotIndia chart.
Will create a long position once we have breakout and the target will be determined by measuring the distance between the bottom of the cup and the pattern’s breakout level.
As I mentioned earlier, Don't Miss to catch this fish. The stock is currently moving up , after completing CUP n HANDLE Patter and taking support @ 22345.00 . Those who missed this stock earlier, the stock is providing a good opportunity to them again. The stock is at support , and at CMP i.e. 22733 is right time to enter the trade. for primary target of 24717.00...
Abbott India Limited is an India-based company that is engaged in pharmaceuticals business , seems to be out of retracement phase now. It is retesting the Support line and may break the Triangle Pattern formed by Support and Retracement lines. The Chart is supported by two EMAs and RSI is also only 38.85 . Break out will give you targets of 21340.85 , 22395.65 and...
Abbott India looks very strong on charts and is attempting a breakout at ATH Levels. If it sustains, sky is the limit. I also feel that the pharma rally has begun with a lot of pharma stocks showing momentum and strength in this market. Keep on radar. Buy above 22850 only and keep that level as stop loss.
Abbotindia closing 20575.55 and with stoploss 20000 then targets are 21200-22000.
Buying Reason.
1 --> Price make a range and good consolidation ready to breakout of range.
2 --> 20 EMA is now giving support.
3 --> RSI is 49.96 showing ready to bullish move.
4 --> ADX is show the bullish move and +DMi is rise.
5 --> Volume is also show the...
📊On 1D Time Frame Stock Showing Breakdown of Bearish flag Pattern .
📊It can give movement down to the Breakdown target of below 17233
📊Can Go Short in this stock by placing a stop loss below 20236
📊 breakdown this can give risk:reward upto 1:5+
It broke out of a triangle pattern in Dec 2022 and bounced from its long term trendline. It is moving along a 9 year old trendline. Stocks like SUNPHARMA, ZYDUSLIFE and CIPLA are technically showing the same trend. Hence it is important to study the whole sector now.
