AbhishekHSinghCMT

Dabur - Tweezer Tops@320 -Choppy Scenario-Target 230-235

Short
NSE:DABUR   DABUR INDIA LTD
332 views
11
For long term analysis as shown below - likely Dabur also finished its impulsive wave sequence at 320 highs where it had tweezer tops as shown below in long term earlier analysis- "Party over for Fresenius SE"

Book
Steve Nison, introduced the Tweezers bottoming and topping pattern in his book "Japanese Candlestick Charting Techniques.

Tweezer Tops
A topping pattern occurs when the highs of two candlesticks occur at almost exactly the same level following an advance. A bottoming pattern occurs when the lows of two candlesticks occur at almost exactly the same level following a decline.

Confirmations for Tweezer Tops
The first candle has a large real body (difference between open and close), but the second candle can be pretty much any size; therefore, the two candles may look quite different. For example, in a tweezers top the first candlestick may be a very strong up candle, closing near the high, while the second candle may be a doji –a cross-shaped, neutral candlestick pattern–that doesn't close near the high but still has a similar high to the first candle.

Analysis

Scenario is little tough as it has become choppy & challenging trading dabur because it will trouble you so best strategy is to wait for next swing low@230-240 or crossing above 305 for market direction.

Earlier Post
From long term analysis - Party over for Fresenius SE as shown below- we already have target 220-230


Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

YouTube Channel https://www.youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw

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Comments

dr_professor_nifty dr_professor_nifty
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Very nicely explained. Thank you
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I am a newbie in the stock market. can u suggest me some books or any content or throw some light on how to learn and progress in trading. I would also want to know do you use any other theory other than Elliot Wave Theory.
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@hulra55332, Contact in PM
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Any trade to be taken immediately?
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@anantindia, No, It is choppy -stops will be hit frequently. If you can take risk then immediate lows of 260-263 can be looked to sell once it goes below.
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anantindia AbhishekHSinghCMT
@AbhishekHSinghCMT, Thanks Abhishek !
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