ABFRL is moving in parallel channel since Jun -2021. After touching the lower line of Parallel channel . It takes support and again bounce back. Upper line is resistance for this script. One can consider a buy with SL of 250.
ABFRL broke its all time high with good volumes. The stock is Rs55, Ars and Srs positive. Yet it shows a negative rsi divergence which is of concern. Instead of adding more position i have sold some. I feel a trend reversal is in coming.
Aditya Birla Fashion gives brakout on daily timeframe with healthy volume our Entry price is 310 after re-test our TGT will be 330,340+ and our SL will be 268.60.
NSE:ABFRL has broken out of a symmetrical triangle with decent volumes. If the breakout sustains then it has the potential to take the prices at 340/350 levels. Keep an eye!
Towards new highs stay bullish on ABFRL, TOWARDS TARGET 400+. All stocks of Aditya birla group are performing well and very bullish even NIFTY showing bear Market.
I see the development of wave C in the charts of the said stock. Wave C is similar to Wave 3 in strength and is a very good trading opportunity. so enjoy. this is for educational purposes only.
ABFRL is creating a Nice Head and Shoulder pattern.
Everything is there in the Chart attached including Entry, Stoploss and Targets along with Supply and Demand Zones...
Happy Trading
