Aditya Birla Fashion and Retail Limited (ABFRL) Stock - Complete Technical Analysis - Oct 16, 2024

ABFRL Stock Analysis Key Levels, Trends & Indicators for Traders

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions.

Aditya Birla Fashion and Retail Limited (ABFRL) is currently priced at 344, showing a 72.81% recovery from its 52-week low of 198.75, but still 5.75% below its 52-week high of 364.4. The stock has been consolidating recently with no major gaps, indicating no immediate reversals in trend.

Technically, ABFRL is in a neutral to slightly bullish zone. The RSI at 54.61 suggests balanced momentum with neither overbought nor oversold conditions. The ADX is relatively low at 21.15, indicating a weak trend, implying the stock could continue its range-bound movement unless a significant trend forms.

The MACD indicates bullish momentum, but the negative momentum score hints at short-term resistance. EMAs across 10, 20, 30, and 50 periods provide strong support around the 330 levels. Meanwhile, the Hull Moving Average indicates slight upward pressure, supporting a bullish bias in the near term.

Support is near 337, while resistance is expected around 360. Traders should watch for price action around these levels to gauge potential breakouts or retracements.