In the previous session, we witnessed the corrections in the market. The Nifty index opened on a positive note but later eliminated all its gains and slipped into a negative territory. The Nifty closed with a net loss of 85.80 points. The Index formed a Bearish Engulfing candlestick pattern on the daily chart which indicates more weakness in the next 1-2 trading sessions. Due to derivative expiry day, a highly cautious view is advised for the day.

Look at the below research report of ‘Stocks to Buy for – Thursday, June 24, 2021’before the market opens.

ABB India Ltd

NSE :ABB   BSE :500002  Sector : Capital Goods – Electrical Equipment

As shown on the daily chart, ABB India formed a strong bullish candle. The stock has decisively broken the ‘Cup and Handle Pattern’ and closed above the neckline of the pattern. Prices made a triangle pattern in the form of a handle. This pattern is considered one of the key signs of bullish continuation, used to identify as a buying opportunity. The important thing to witness is that stock closed above the upper Bollinger band which indicates positive momentum in coming days.

In short, the trend for ABB India Ltd looks to be positive. A throwback can be expected near 1775 levels. Use dips as a buying opportunity for a move towards 1930 levels as long as 1720 level holds on the downside.

Check More Analysis on ABB at: ABB India Ltd