ABB is bullish on multiple timeframes and is consolidating in an ascending triangle near ATH. Sustained close above 3,450 with decent volumes make it ideal for a breakout. If not the stock can retest the lower trendline of the triangle.
Note: This is not a buy/sell recommendation. Just learning and sharing my views for educational purposes and open to feedback...
ITC has been on a bullish trajectory since the beginning of 2022 and is currently consolidating in a triangle. Price is continuously forming higher highs and higher lows and is trading above 50 and 200 DMA. Breakout above this congestion zone and sustenance at 395 will be an opportunity for the stock to steer to new highs.
Tata Motors has been consolidating in a descending triangle since Oct 2021. Since this long consolidation has come after a rapid rise in prices from end of 2020 to Oct 2021, and heavy buying volumes are seen at 380 levels which is bottom of the triangle, a huge up move can be expected as the stock breaks out of the downward sloping trendline and targets up to...
Tata Steel saw an upward trajectory since June 2022 lows but after facing resistance from the falling channel in Jan'23, it has become range bound with slight bearishness. Currently, at crucial support of 200 DMA at 102–103 which was also the Dec 2022 low, a breakdown can take the stock to 95 levels. Whereas bullish divergence in RSI (HL in RSI and LL in price) if...
