ABB India Top Picks are well-positioned for success in industrial manufacturing

 ABB India Top Picks are well-positioned for success in industrial manufacturing

Technical experts advise ABB India to trade between Rs 4,326 and Rs 4,280, with a closing stop loss of Rs 4,180. Up to 7% growth potential is anticipated.

ABB India closed at Rs 4,344.85, down 2.15 points on November 21.

After a weak showing last month, technical charts show that the industrial manufacturing sector is improving, and the overall structure is still solid. ABB India is a notable stock in the industry that is expected to go well.

In addition to chart analysis, it's critical to evaluate a stock's strength by contrasting its performance against peers and the market. Robust stocks have the ability to grow in tandem with an increasing index and to decelerate in response to a declining market.

The sectoral strength study of F&O stocks on the NSE, according to Kapil Shah, Technical Analyst, Emkay Global, reveals that industrial manufacturing is outperforming on a weekly and four-week average basis, pointing to an impending sector rebound. Shah noted that the area was stable throughout a range of times.

"The stock has touched the 216-period moving average after a 16 per cent correction from the top," Shah said, focusing on ABB India within the industry. There is a possible flag pattern that suggests bullish continuation."

Strategy Suggestion:

Shah recommended that the closing range for ABB India shares be Rs 4,326-4,280, with a stop loss of Rs 4,180 (-3.62 percent). There is a 7 percent chance of upside, up to Rs 4630.

The stock was up 0.63% from the previous close as of 10.38 am on the National Stock Exchange, trading at Rs 4,317.80.

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