Sudarshan Sukhani of s2analytics.com share his view on ABB .
Sukhani told CNBC-TV18, "ABB has been moving in a narrow trading range for the last two months that could well represent a bottoming out process; this is how a stock or an index should move up. Come down, people forget about it, it moves into a trading range, consolidates, smart money buys it and then it moves up. So ABB is doing all the right things except of course it hasn't moved up."
He further added, "I am just anticipating that this is a stock that's bottoming out, yesterday it had a good rally, it also crossed and made a 20 day high that tells us that there is some buying interest here and that buying interest could persist. So it's not just for short-term traders even for people who want to take positions ABB should deserve attention because it maybe completing its bear market."
