Aditya Birla Fashion & Retail Ltd (ABFRL). STOCK ANALYSIS

24 сент.

Aditya Birla Fashion & Retail Ltd (ABFRL). Below is an analysis of the chart:

Key Observations:
Price Movement:

The stock experienced a correction of 39.75 INR (11.46%), followed by a recovery of 36.90 INR (10.63%).
The current price of the stock is around 343.30 INR.
Recent Recovery:

After the 11.46% decline, the stock has bounced back, gaining 10.63%, indicating renewed buying interest. This suggests a recovery after a dip.
Support and Resistance:

The support level appears to be around the 300-320 INR range, where the price found support during the decline.
The resistance level is around the 360-370 INR range, where the previous rally saw some selling pressure.
Volume and CVD:

The CVD (Cumulative Volume Delta) indicates negative numbers, suggesting selling pressure in recent sessions. This may signal that the stock needs more volume or buying power to break above current resistance.
Outlook:

If the stock breaks the 360 INR resistance, it could see more upside momentum, but if it faces selling pressure, it may revisit the support zone.
Conclusion:
The stock is in a recovery phase after an earlier decline, but there is resistance ahead. Breaking the resistance around 360-370 INR could lead to further gains.
Monitor Volume: To confirm bullish strength, an increase in buying volume would be crucial.