This analysis focuses on ABB India Ltd, where the stock is exhibiting a potential breakout from its recent consolidation phase, suggesting an upward move toward ₹9,130, which is 9.39% higher from the current level. The chart includes Fibonacci retracement levels, key trendlines, and technical indicators.
Key Highlights:
Key Levels to Watch:
Conclusion:
With the breakout above the descending triangle and the stock holding above key Fibonacci levels, ABB India Ltd appears set for an upside move toward ₹9,130. Traders should watch for sustained volume and monitor support levels in case of pullbacks.
Key Highlights:
- Current Price: ₹8,510.30
- Fibonacci Retracement:
- 61.8% retracement level around ₹8,835 has been broken, which is a bullish sign.
- Price is expected to reach the 100% retracement level at ₹9,130.75, indicating further upside potential.
- Trendline Breakout
- Technical Indicators:
- RSI: Shows a gradual rise, indicating growing bullish momentum.
- Moving Averages: The stock is well above its 50-day and 200-day moving averages, reinforcing the bullish trend.
Key Levels to Watch:
- Resistance: ₹9,130.75 (100% Fibonacci retracement).
- Support: ₹8,084 (50% Fibonacci retracement).
Conclusion:
With the breakout above the descending triangle and the stock holding above key Fibonacci levels, ABB India Ltd appears set for an upside move toward ₹9,130. Traders should watch for sustained volume and monitor support levels in case of pullbacks.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.