Keep a stop-loss at Rs 265. The stock may move up to Rs 294.
ABB
Current price: Rs 279
Target price: Rs 292
The stock shot up on heavy volumes last week. Most of the movement came on Tuesday and Friday, while Friday had large volumes too. There was a lot of intra-day volatility. The pattern suggests that a rise till Rs 294 is possible.
But there is big resistance at Rs 292. Keep a stop at Rs 265 and go long
