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Gladiator Stocks: ABB India Ltd. – Technical Outlook

The BSE Capital Goods Index has resumed its uptrend after declining for two quarters, signaling renewed sector strength.

ABB India is showing signs of recovery, forming a higher base around key technical levels:
50-month EMA, and
61.8% Fibonacci retracement of its Dec ’22 to Jun ’24 rally (₹2640–₹9150).

Historically, since 2009, corrections of 50–55% have consistently offered strong entry points, often followed by a move toward 52-week highs within three quarters.

In the current scenario, ABB has already corrected 49%, suggesting the stock has likely completed its price-wise correction while absorbing multiple negative triggers.

Given the historical trend and current technical positioning, ABB presents a fresh entry opportunity with a favorable risk-reward setup for medium-term investors.

For details, click on the link below: https://www.icicidirect.com/mailconte...

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