Analysis and Summary of the ADITYA BIRLA CAPITAL LTD. (NSE: ABCA🔍 Technical Overview:
Current Price: ₹200.25
Recent Price Action: Price is attempting a bounce after forming a higher low near ₹187.83.
📈 Key Technical Levels:
Fibonacci Levels:
0.0 (Support): ₹187.83
0.5 (Mid-Resistance): ₹204.67
0.618 (Golden Ratio): ₹208.64
1.0 (Previous High): ₹221.51
1.618 (Target Extension): ₹242.33
📐 Pattern Forming:
A descending triangle or falling wedge pattern seems to be forming, indicated by the downward sloping trendline from the recent highs. This setup can break out in either direction but often has a bullish bias when occurring in an uptrend.
📊 Interpretation:
Bullish View:
A break above ₹204.67 (0.5 Fibonacci level) could push prices toward ₹208.64, then ₹221.51.
If ₹221.51 breaks, ₹242.33 is the long-term Fibonacci extension target.
Bearish View:
A breakdown below ₹187.83 may trigger further correction.
This would invalidate the bullish setup.
🧠 Conclusion:
The stock is currently consolidating between key resistance at ₹204–208 and support at ₹187. A breakout above ₹208.64 will confirm bullish momentum. Watch for volume spikes and candlestick confirmation around those key levels.
