ABBOTINDIA AT CRITICAL LEVELS ON WEEKLY CHARTS
ABBOTINDIA is at a very critical levels on weekly charts
TRADE IDEA -
SHORT - If price closes BELOW GREEN TRENDLINE only on WEEKLY CLOSING BASIS.
LONG - If price manages to close above GREEN TRENDLINE this WEEKLY CLOSING BASIS we may see some pull back on upside
IMPORTANT - TRADE IDEA ON WEEKLY CLOSING BASIS ONLY.
ABBOTINDIA trade ideas
ABBOTINDIA - LONG ENTRYThe Stock takes support on weekly basis, where it faced resistance previously.
On monthly chart it created a hammer candle on the support zone.
Good Swing Entry for a couple of months, hoping to see new all time high
Trade Details:
Buy Below : 19600
Stop Loss : 17300
Holding Period: more than 2-3 months
ABBBOTINDIA....2HNSE:ABBOTINDIA
ABBOTINDIA IS CLOSE TO FORM NEUTRAL TRIANGLE .. IF WANT CAN KEEP ON YOUR WATCHLIST
BUT POSSIBLE ENTRY WILL BE NEXT WEEK
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ABBOTT INDIA longVery long consolidation break and now the Break out from the previous ATH
Fundamentally very sound company - It is like a FMCG of pharma
Pirce closing above 20000 will fuel further rally
SL - 17500 wcb
Target 1- 28000
Target 2 - Just Hold and pyramid, as these are one of the best companies in MNC pharma
Long Opportunity in ABBOTT INDIAABBOTT INDIA had been bearish for past 4 trading days after hitting its All Time High. It is aslo near the CPR support (S1). So there is a long opportunity if a big bullish candle follows near that CPR Support. The company declared their Q1 results for FY 21-22 and its net profit grown 8.5% in Q1 21-22.
So swing traders may find this as useful . They may long on this scrip after confirmation of bullish candle near CPR support and may have their Stop Loss below the CPR support (S1).