ABBOTINDIA trade ideas
Can ABBOTT INDIA LTD reach 18K?On the weekly chart of ABBOTT INDIA LTD we can see Poll & Flag Pattern .Company has good fundamental.It is also well known company in pharma industry.This is an opportunity to buy the stock of ABBOTT INDIA for Investers(minimum 2 year).Chart pattern is also good,so Investers can buy this stock now.Levels and logic behind the trade marked on thhe chart.
Buy above-15400
Add more-14000
SL-12900
Target 1-17000
Target 2 -18500
Educational purpose only.
Consult your financial advisor before taking any action.
Abbott India- FlagsPeople have written obituaries about this stock, as it is not moving since March 2020.
Stock has also closed below its 200 ema on a daily chart (which is generally considered bearish sign)
I may be wrong here, but what i see is stock is nicely moving in flag formation on a weekly chart. It is consolidating for now.
I will enter once that level breaks.
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These are all for educational purpose please consult your financial advisor before investing your hard earned money.
ABBOTINDIA - Breakout after consolidation - SwingThis analysis is done purely on basis of price action and chart patterns.
The analysis is done on weekly TF hence it can take couple of weeks to reach the target. But as the stock is in bullish trend on longer TF, it may reach target within few days as well.
Trade Logic, SL and Target is shown in image itself.
Daily TF chart is attached below for reference.
This analysis is for study purpose. Traders must do their own study before entering into any trade. Traders should trade with their own risk capacity and money management.
Feel Free to comment for any query or suggestion regarding this stock or Price Action Analysis