ABB INDIA LTDLong
bullish setup
ABB has created a HH-HL structure with tiny flag channel at top under formation, pole length ~300 indicating very bullish target of new ATH on horizon.
key levels to watch
recent HL 2014
support 1889
close resistance 2336
next supply zone 2400-2668
EMA 21 2220 could be reaction level
trade setup
1. if market remains bearish then put can be sold below ema 21 as flag channel may consolidate price in range
2. if market remains sideways the equity / hedged futures can be long with sl below ema and trailed targets of close resistance and supply zone
3. if market goes bullish then call and future can be traded with target of intraday scalping or a short swing upon break of flag channel
4. investment could be done with target of pole and sl below recent HL, entry upong break and close above channel
key levels to watch
recent HL 2014
support 1889
close resistance 2336
next supply zone 2400-2668
EMA 21 2220 could be reaction level
trade setup
1. if market remains bearish then put can be sold below ema 21 as flag channel may consolidate price in range
2. if market remains sideways the equity / hedged futures can be long with sl below ema and trailed targets of close resistance and supply zone
3. if market goes bullish then call and future can be traded with target of intraday scalping or a short swing upon break of flag channel
4. investment could be done with target of pole and sl below recent HL, entry upong break and close above channel
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