ABB India Ltd. (NSE: ABB) - Technical Analysis & Market Outlook
Overview:
ABB India Ltd. has demonstrated significant price action over the past few years, with a strong uptrend followed by a corrective phase. The current price action suggests a potential reversal from key support levels, presenting an opportunity for long-term investors and swing traders.
Key Observations:
Potential Trade Setup:
Conclusion:
ABB India Ltd. is currently at a critical juncture, with strong confluence of technical factors supporting a potential upside move. Traders should monitor price action closely for confirmation before entering. If the support holds, the stock has a high probability of reversing towards higher levels.
Disclaimer: This analysis is for educational purposes only and should not be considered as financial advice. Conduct your own research before making any trading decisions.
Overview:
ABB India Ltd. has demonstrated significant price action over the past few years, with a strong uptrend followed by a corrective phase. The current price action suggests a potential reversal from key support levels, presenting an opportunity for long-term investors and swing traders.
Key Observations:
- Support Zone: The stock is currently testing a major support level around ₹5000 - ₹5200, which aligns with a previous accumulation zone and historical resistance-turned-support.
- 200-Week Moving Average: Price action is hovering near the 200-week moving average, which has historically acted as a strong dynamic support.
- RSI & Momentum: The Relative Strength Index (RSI) has moved into oversold territory and is now showing early signs of a potential reversal.
- Volume Profile Analysis: The highest volume concentration is observed around the ₹6000-₹7000 range, indicating a major supply zone where price may retest if a reversal occurs.
- Price Structure: The formation suggests a higher low structure, which is a positive sign for bullish continuation.
Potential Trade Setup:
- Entry: Around the current levels of ₹5100-₹5200 with confirmation of bullish momentum.
- Stop-Loss: Below ₹4800, as a break of this level may invalidate the bullish thesis.
- Target 1: ₹7000 (previous consolidation zone & high-volume area)
- Target 2: ₹9000 (previous swing high & psychological resistance)
Conclusion:
ABB India Ltd. is currently at a critical juncture, with strong confluence of technical factors supporting a potential upside move. Traders should monitor price action closely for confirmation before entering. If the support holds, the stock has a high probability of reversing towards higher levels.
Disclaimer: This analysis is for educational purposes only and should not be considered as financial advice. Conduct your own research before making any trading decisions.
Feragatname
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Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.