Dabur - Looking poised for an upmove along with FMCG index.

Dabur has confirmed an uptrend with breakout of a long term trend line . This is among the best looking charts of FMCG index, that itself has reversed only a few days back.

A long positions can be taken at current rates, with a stop loss of 458 and for targets 489.

Future OI has been showing long buildup, but option chain is not giving desired confidence at this stage, but Dabur does not seem to be very liquid on options.

Derivative traders may consider a vertical bull spread using 460 and 480 calls for Jan expiry.

I generally avoid suggesting, trading using naked futures or options, strategies not only help in reducing risk but also empower positional traders to remain in a position for longer periods and grab bigger profits.

You may send me a direct message for any clarification, and low risk strategies to trade for short term gains.

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Trade closed: target reached


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