Aditya Birla Capital breaks above its wedge pattern !

Aditya Birla Capital breaks above its wedge pattern Aditya Birla Capital Limited (NSE: ABCAPITAL) closed at ₹410.05 on September 18, gaining 5.14%. The stock broke above the upper trendline of a daily wedge pattern with notable volume expansion. The breakout was accompanied by a strong Bullish Marubozu candle. The stock also closed above its 20-day EMA at ₹398.79 and 50-day EMA at ₹397.36. RSI stood at 56.32, showing improving momentum. The combination of a wedge breakout, higher volume and a move above the short- and medium-term EMAs gives the chart a clearly defined technical structure. My view is that ₹398-₹400 is now an important area to monitor. Holding above this zone would keep the recent breakout structure intact. A sustained move higher would need confirmation from price action and volume.