ABB on a slide; Andhra Bank, Divi's Lab consolidate

ABB (Sell below Rs 748.50, target of Rs 730)

ABB has been on a downward slide since its management said that they were witnessing margin pressure due to a slowdown in orders. The stock is near its support of Rs 750. A break below Friday’s low of Rs 748.50 can take the stock down sharply.

[caption id=“attachment_92042” align=“alignleft” width=“380” caption=“Andhra Bank has been consolidating around the Rs 120 levels for the last one month. Punit Paranjpe/Reuters”]  [/caption]

Andhra Bank (Buy above Rs 122.30, target of Rs 125)

Andhra Bank has been consolidating around the Rs 120 levels for the last one month. The recent slide in banking counters did not have an impact on the counter. A correction in the market can take the stock marginally higher.

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Divi’s Lab (Buy above Rs 723, target of Rs 735)

Divi’s Lab is in a consolidation phase for nearly a month around the Rs 700-725 levels. The counter has not been falling in line with the market, and even if does, the fall is on low volume. A positive correction in the market can push the stock up sharply.

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