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    HomeNewsBusinessAccumulate ABB, target Rs 1,370: Achin Goel

    Accumulate ABB, target Rs 1,370: Achin Goel

    Traders can accumulate the stock in the range of Rs 1,230-1,240 for the target of Rs 1,370 and a stop loss can be placed below Rs 1,182.

    Moneycontrol News
    May 31, 2018 / 11:53 IST
       
       
      26 Aug, 2025 12:21
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      Achin Goel


      On the weekly chart, an engulfing pattern is visible in ABB which suggests waning bearishness among the traders. On the daily chart, the price has moved above 13-EMA in its recent price action which shows the growing optimism in the stock.

      In addition, positive divergence is visible in the momentum indicator RSI (14), on the daily chart. Traders can accumulate the stock in the range of Rs 1,230-1,240 for the target of Rs 1,370 and a stop loss can be placed below Rs 1,182.

       Disclaimer: The author is Head of Wealth Management and Financial Planning, Bonanza Portfolio Ltd. The views and investment tips expressed by investment experts on moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
      Moneycontrol News
      first published: May 31, 2018 11:51 am

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