ABFRL trade ideas
Breakout expected in ABFRL Breakout expected in ABFRL @ price of 223-225. After BO stocks might move towards 280 with minor resistance of 245.
Disclaimer - this is just for educational purpose and not a trading or investment advise
Buy ABFRLA Symmetric Triangle formation has occurred on the weekly charts.
Above average high volume on breakout.
Also price has been in an expanding formation since 11th May 2020.
Price objective as per Triangle formation comes to 382.9
Other near term price targets are shown by green horizontal lines
Rising ADX line + Bullish MACD crossover on weekly charts further confirm the bullish trend
Stop Loss can be kept at 184.3
Risk/Reward Ratio is 4.35
Jk paper for buyingJk paper is near breakout level with good volume so may be prefer for short and medium term buying side.this is only for educational purposes.thanks
ABFRL just weak for 2 3 session to bounce back watch pattern carefully which is zig zag chart as shows all information about trends without time limit or against time
As per my Research will go to 195 once again to bounce back
As per long term view this stock is best to hold
Thank You
Samkit Jain
ABFRL ::: BULLISHDATE: 30 MAY 2021
INSTRUMENT: ADITYA BIRLA FASHION AND RETAIL LTD.
TREND: BUY
TIME FRAME: DAY
CMP: 191.05
BUY ABOVE: 195
STOP LOSS: 189
TGT 01: 201
TGT 02: 216
TGT 03: 224
DISCLAIMER:
We are not S E B I registered analysts.
Please consult your personal financial advisor before investing. We are not responsible for your profits/losses whatsoever.
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ADITYA BIRLA FASION AND RETAIL LIMITED :: BULLISHDATE: 23/5/2021
INSTRUMENT: ABFRL
TREND: BUY
TIME FRAME: DAY
CMP: 188.50
BUY ABOVE: 190
STOP LOSS: 180
TGT 01: 205
TGT 02: 220
DISCLAIMER:
We are not S E B I registered analysts. Please consult your personal financial advisor before investing. We are not responsible for your profits/losses whatsoever.
ABFRLTrading near trend line support, Low risk buying resistance near 220-230 bullish if gives breakout above 230, SL 150
ABFRL - ASCENDING CHANNEL - Retesting the breakoutThe above analysis is done purely on basis of Price Action & Chart Patterns.
The analysis is done on daily TF hence price may take few days to few weeks in order to reach the targets
Logic, Entry range, SL are shown in image itself.
For target refer this image -
The above analysis is purely for educational purpose. Traders must do their own study before entering into any trade. Traders must trade as per their own risk taking capacity and money management.
Feel Free to comment for any query or suggestion regarding this stock or Price Action Analysis.
Checkout my other ideas to understand how one can earn from stock markets with simple trade setups.
ADITYA BIRLA FLASHADITYA BIRLA FLASH PARALLEL CHANNEL, TARGET 175.75 INTRADAY OR BTST, TRADE ON YOUR RISK REWARD....
ABFSL : Ready to Soar# Trading above 21DMA
# Volume + D. Volume Increased
# Gathered energy within a range in the last 1 month
# Good to go above 167 (SL 157 CLB)
# TGT - 188 / 210
Chart Study- ABFRL, BHEL, ITC, EDELWEISS, INFRATEL, BOSCHLTDThe analysis done below is purely based on price action & chart patterns.
Double Bottom (W) Pattern is a popular chart pattern in price action trading.
In ABFRL chart (Daily TF) that I have shared here, traders can note that the second bottom is formed above the first bottom. (same is described with help of small image in the chart)
In such cases where the second bottom is formed above the first bottom, the price usually breaks the next resistance level which is above the starting point of "W" pattern. (for clarity, refer the W pattern drawn in the box).
Same has happened in ABFRL twice.
I have observed similar patterns in formation in following stocks -
(1) ITC
(2) INFRATEL
(3) EDELWEISS
(4) BHEL
(5) BOSCH
Weekly Charts of above stocks are posted here with potential targets.
Traders can enter into the trade as per their own setup & risk management.
Also, pls comment the name of any other stock which is forming similar pattern.
ABFRL trading above the short term resistance line !After multiple attempts, it is trading above 130. Next major resistance at 141. If broken out successfully, it can rally up to 180.
Intraday TradeI am not going to take this trade. Just an idea. Do it with your own analysis and risk.
#ABFRL #NSE #NIFTY #BANKNIFTY #FASHION #IoT #ML #INVEST #TRADE #ABFRL
Aditya Birla Fashion and Retail Ltd.
CMP: 164.95
Target: 188
SL: 127
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Abfr upside expectedAditya birla fashion retail has taken strong support at 130 levels and have moved upside. Consistently breaking resistance and closing above 20 dma. Momentum trade upside till closes below 20dma. Target 164.
