|STOP LOSS||Below 16,200 (On closing basis)|
|TIME HORIZON||3-4 Weeks|
About The Company :
Abbott India Ltd is subsidiary of Abbott Laboratories an American multinational medical devices and health care company with headquarters in the Abbott Park Business Center in Lake Bluff, Illinois, United States.
Abbott Laboratories has been present in India for over 100 years through its subsidiary Abbott India Limited and it is currently India’s largest healthcare products company.
Trading Opportunity :
Abbott India is forming higher top & higher bottom on daily charts. Stock is constantly trading above 200 Day EMA even in this kind of market situations.
Pharma stocks are out performing broader market and currently it is a new flavor of the market in recent weeks. Abbott India being a debt free MNC Pharma company , It will be attractive option in pharma stocks.
We are recommending strong Buy around 16,900-17,000 with Stop loss of below 16,200 (Closing basis) for Target of 18,500 in next 3-4 weeks.