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Accumulate up to 625 in Tranches........... Target All the way upto 1700 Stop Loss 615. ...

:- According to our analysis ABB has shown clear change in trend  pattern , It is changing from descending channel to new small ascending channel from current level 570 to upside 700. This trend reversal has shown unusual volume break out . As per price pattern prices are making higher tops and higher bottoms in weekly basis with new positive trend.
As per Elliot wave we see the third wave is getting started from current  levels , as we saw  prices showing 50% retracement fall @567 , suggesting a support and formation of wave two. Now we can see a new ascending channel pattern from down side 567 to upside at  720, once price cross 700-720 levels we can see new positive surge, opening up the minimum  upside target 850. The explosion of the third wave can see new levels such as 1100,1300,1700 in coming period.

 This is good investment based call and we advise to accumulate up-to 625 in tranches, with  targets of 850,1100,1300, 1700  and 615 will be a stop loss for this trade.



Disclaimer:All information given here is largely based on technical analysis which is highly dynamic in nature and relevant only at a particular point of time. Users are advised to pursue these recommendations only at their own risk and first consult their personal investment advisor when making investment decisions. We are not liable and we take no responsibility for any loss that you incure by trading/investing on our recommendations. these study are posted for educational purpose only.

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