Aditya
Birla capital
Share price of AB capital touched its 52-week high price of Rs.193.30 with impressive traded volume
of 29.043 Mn which is 5X greater than the average volume of 10 days.
In this blog
will do top-down analysis of Aditya Birla capital from technical point of view.
Monthly
chart:
When we talk
about the Monthly chart analysis means we are trying to draw the long-term view
of the stock or the trend of the stock.
1. On monthly chart we can see a Breakout
on Bollinger band with high volume.
2. So far this month the relative volume
is higher than the last month volume.
3. RSI is also above 60 means stock has
high momentum.
Weekly Chart:
1. Weekly chart means medium term trend
of the stock, here again momentum indicator is well above 60 and have taken support
on 60 while we see price retracement in stock.
2. Relative volume is higher and price
closes above last 2-3 weeks, although we have one more trading session this
week.
3. Price breakout above Bollinger band.
Daily Chart:
1. Daily chart means the short-term trend
of the stock, which is again trending as we see the price action on chart.
2. We saw a price retracement in the
last week but price took support on its 20-day simple moving average with RSI
taking support at 50 and bounced back in back-to-back trading sessions.
3. Today we see a squeeze breakout on Bollinger
band towards upside and price sustaining and gaining 52-week High.
Conclusion
– Stock Aditya Birla capital is in strong momentum and if price continue
trading above 20 SMA and give a close above 197 , it can go further to 210 in
medium term.
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