ABCAPITAL TECHNICAL VIEW
The chart shows a daily timeframe for **Aditya Birla Capital Ltd. (NSE)** with a notable **ABCD harmonic pattern**:
### **Key Technical Observations:**
1. **ABCD Pattern:**
- The chart depicts an ABCD bullish harmonic pattern, suggesting a potential reversal from point **D**.
- **Point B** marks a strong support level around **₹185-190**.
- The **potential target (D)** is around **₹230-235**, indicating a bullish price expectation.
2. **Fibonacci Levels:**
- The harmonic pattern is supported by Fibonacci retracements, with point **C** near a retracement level.
- **Point D** aligns with a Fibonacci extension level, further confirming the target zone.
3. **Support & Resistance:**
- **Support Levels**: Around **₹190**, followed by **₹175**.
- **Resistance Levels**: Around **₹202**, **₹230**, and **₹235**.
4. **Risk-Reward Ratio:**
- The stop-loss level appears near **₹175**, offering a favorable risk-to-reward ratio given the projected upside.
### **Conclusion:**
The stock seems to be in a bullish setup with a target near **₹230-235**. Traders may consider entering near the current price with a stop-loss around **₹175**, but they should monitor broader market conditions and any fundamental news that could impact the trend.
### **Key Technical Observations:**
1. **ABCD Pattern:**
- The chart depicts an ABCD bullish harmonic pattern, suggesting a potential reversal from point **D**.
- **Point B** marks a strong support level around **₹185-190**.
- The **potential target (D)** is around **₹230-235**, indicating a bullish price expectation.
2. **Fibonacci Levels:**
- The harmonic pattern is supported by Fibonacci retracements, with point **C** near a retracement level.
- **Point D** aligns with a Fibonacci extension level, further confirming the target zone.
3. **Support & Resistance:**
- **Support Levels**: Around **₹190**, followed by **₹175**.
- **Resistance Levels**: Around **₹202**, **₹230**, and **₹235**.
4. **Risk-Reward Ratio:**
- The stop-loss level appears near **₹175**, offering a favorable risk-to-reward ratio given the projected upside.
### **Conclusion:**
The stock seems to be in a bullish setup with a target near **₹230-235**. Traders may consider entering near the current price with a stop-loss around **₹175**, but they should monitor broader market conditions and any fundamental news that could impact the trend.
כתב ויתור
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