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Technical Observations

* The share price of Aditya Birla Fashion has witnessed a strong buying demand from the support area of | 190 being the confluence of the 52 weeks EMA (currently at | 190) and the rising demand line joining lows since July 2020 highlighting positive price structure and offers fresh entry opportunity

* The stock on Thursday session has registered a breakout above the falling channel containing the entire corrective decline of the last one months signaling resumption of up move and offers fresh entry opportunity

* We expect stock to resolve higher and head towards its July 2021 high of | 234 levels in the coming weeks

* The weekly stochastic has recently rebounded from its previous major low and has generated a buy signal moving above its three periods average thus validates positive bias.

Buy Aditya Birla Fashion & Retail Ltd @ 212.00-216.00 TGT 233 SL 206

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