In the previous session, Market had a corrective move with a negative bias throughout the day. The Nifty Index saw a gap down opening in the morning session due to global uncertainties and gradually extended losses as the day progressed. However, in the second half we saw some recovery from lower levels in the market. The Index formed a Bearish candle on the chart and closed with a net loss of 252.70 points. A cautious approach is advised for the next trading day.

Look at the below research report of ‘Stocks to Buy for – Monday, March 07, 2022’ before the market opens.

ABB India Ltd

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

We have plotted a daily chart of ABB India. In the daily time frame, ABB share prices are moving above a Symmetrical Triangle Pattern. In the previous session, stock managed to close above short term 20 EMA support which is a sign of bullishness for the coming session. The Relative Strength Index (RSI) on the daily chart is 48.62. As per Parabolic SAR on the chart, dots are moving below the prices which indicates that stock is now in uptrend.

In short, the trend for ABB INDIA looks to be positive for now. Due to volatility in the market, positions can be created above previous day’s high above 2200 levels, which can take prices towards 2290/2470 levels. On the other side, the level of 2110 will act as key support for the stock.

Check More Analysis on ABB at: ABB India Ltd