Dabur India Ltd. : Intraday + Swing Setup

DABUR

Dabur India Ltd. Intraday + Swing Analysis
1. Dabur has been forming a Channel on the hourly timeframe and its also near a support zone
Most channels are the last leg of a trend.

1.(a). For intraday, it has been forming a range near channel resistance so one can trade this range Breakout or reversal(Down leg in the channel)

1.(b).Fib retracement is at 0.5 Ratio

So we will look for a breakout of the channel and resistance trendline (mention on the chart) that will give us a Double confirmation.
##Targets should be 550 for intraday and for swing 569/600+
Stop is Below channel
2.RSI divergence

3. On a Weekly chart, you can see it is near the support trendline.

This is only for educational purposes only.
Always trade with stop-loss.

I hope you found this idea helpful.
Please like and comment.
Share with Your Friends.

Keep Learning,
Happy Trading!

Trade active