Amit Harchekar bullish on ABB, target Rs 1450-1460

Amit Harchekar of A Plus Analytics has a bullish view on ABB and expects the stock to test Rs 1450-1460.

Amit Harchekar of A Plus Analytics told CNBC-TV18, "We have a bearish view on capital goods index, but ABB  has formed a positive reversal on relative strength index (RSI). Apart from that, the stock has low liquidity. There is a strong accumulation which has earlier happened in the zone of around Rs 1300-1330. So we are expecting this rally to extend further and re-test the zone of Rs 1450-1460."

"We are quite bullish on ABB. So any declines towards Rs 1320 becomes a buying opportunity, but stop loss for the long position is at around Rs 1300," he added.

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