Technical Analysis Aditya Birla Capital Ltd.

The stock $ABCAPITAL is currently in a strong recovery phase. After a solid rally late last year it went through a healthy correction dropping to the 295–300 zone around March and April. Since then it has bounced back aggressively making higher highs, and is currently trading near 364.90. Resistance Zone 370 the stock is currently testing a major resistance level. This is the exact area where the price peaked and reversed earlier in the year. If the stock manages to break out and close strongly above 370 on a daily timeframe it signals a highly bullish trend continuation. Immediate Support 335 If the stock faces rejection at the current high and pulls back the 330–335 area will act as the first line of defense. Major Support 300 this is the significant bottom formed during the recent correction. As long as the stock stays above this level the broader long-term structure remains positive. For short-term buyers initiating fresh positions right now is risky since the stock is testing a major resistance zone around 370. It is much safer to wait for a confirmed daily breakout above 370 or look for buying opportunities on a dip toward the 335 support level. For existing short-term holders this is an ideal time to either book partial profits or strictly trail your stop-loss near 345 to protect your recent gains. Technical analysis is based on historical patterns and does not guarantee future results. Always use a Stop-Loss to manage your risk.