Broke out on 13th August with a good candle and volume.
There is a wick on top. But it is less than 20% of body height.
Closure was near Pivot.
Awaiting for next candle for confirmation
A full body candle with a short tail which could indicate uptrend
Buy above 130.25. But due to long candle in day need to cross 13 August high.
1st Target 146.45 .
If broken...
the business involves lot of common brands we see in everyday life- Allen Solly, Van Heusen, Louis Philippe and Peter
England, Pantaloons
already discovered brands, the core business maintaining a cagr of 7 to 10 percent topline growth, profit margins are not that attractive either, growth is around 10 to 15%..
plain vanilla established brand name play.
2...
We have seen good volume support for ABFRL emerging over last 3 months at lower levels indicating accumulation. ABFRL is attempting a breakout from a cup and handle on good volumes. RSI seem to be supporting the upmove. We can expect a good rally in the scrip. 242 may be a good initial price target for the up move.
STOCK LOOKING VERY BULLISH ON CHART AND FUNDAMENTALS ALSO VERY GOODS,RESULT ALSO POSITIVE ,PROMOTERS INCREASING STAKE..BUY FOR 1 TO 2 MONTHS FOR GOOD RETURNS
