ABFRL SWING LONG
1. A major trend line breakout happend 6 weeks back, after that continuously in a strong uptrend.
2. On 2nd November it breaks its all time high of 281.35 and closed at 288.10 with a strong bullish candle of 6.23%.
3. Today stock pickups the momentum after the successful retest over the level of 281.25
Details :
Buy range : 296-306
Stoploss : 275
Target : 396 ( fibonacci 1.618 level ), 30% .
Short term targets are 331 ( 8.5% ) and 358 (17%).
For mid to long term a good entry will be after a pullback , when it took a support over 20 EMA.
Disclaimer : This analysis/strategy is only for educational purpose and not be considered as any trading idea/tip. Please consult your financial advisor before you take any trade and we are no way responsible for your profits/losses. Thank you!
2. On 2nd November it breaks its all time high of 281.35 and closed at 288.10 with a strong bullish candle of 6.23%.
3. Today stock pickups the momentum after the successful retest over the level of 281.25
Details :
Buy range : 296-306
Stoploss : 275
Target : 396 ( fibonacci 1.618 level ), 30% .
Short term targets are 331 ( 8.5% ) and 358 (17%).
For mid to long term a good entry will be after a pullback , when it took a support over 20 EMA.
Disclaimer : This analysis/strategy is only for educational purpose and not be considered as any trading idea/tip. Please consult your financial advisor before you take any trade and we are no way responsible for your profits/losses. Thank you!
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