ABB Ltd. is one of the oldest listed company trading on NSE, it was listed on NSE on 8 February 1995. ABB has been in its intermediate up trend and we are now looking for only buying opportunities as long as the up trend continues. The technical studies on this stock suggest that it has a very good (strong) support at 780 level. Investor must start accumulating this stock near the 800 zone for near term target of 960. while placing the position stop loss orders below 770 level.
When we talk about fundamentals we see that this company has given very consistent returns every year since its inception. Long term fundamentals are very strong for this company, so our rating will be to buy this stock for target of 960.
About Bhaveek PatelBhaveek Patel is one of the most successful traders, technical analyst, and investor, his areas of interest include stock market, forex, and gold trading. Apart from this, he is often seen in the golf course. He is having more than 10 years of experience in trading, had placed his first order on 19 June 2006 with IndiaInfoline.
Abb is going down and i am looking it for the targets of 500 label, i am attaching chart for the same for your reference.
Stock may have some support at 700 zone on daily chart. Overall trend is mixed on weekly chart, more sluggishness expected.