DABUR INDIA LTDShort
Dabur looks weak.
Updated
Rising wedge pattern as marked by white lines.
RSI divergence also seen.
Every time Dabur tries to make a new high, it gets rejected. Since almost a year it is struggling to make proper new life high. since last 3 life highs volumes are decreasing for every life high.
look at the highs marked highs, rejection after every 3 to 5% move from highs.
only volumes are not supportive for shorting, but still i would avoid longs, even it makes a big move on upside will avoid and look at other FMCG stocks. checke link attach for good move in colpal.
RSI divergence also seen.
Every time Dabur tries to make a new high, it gets rejected. Since almost a year it is struggling to make proper new life high. since last 3 life highs volumes are decreasing for every life high.
look at the highs marked highs, rejection after every 3 to 5% move from highs.
only volumes are not supportive for shorting, but still i would avoid longs, even it makes a big move on upside will avoid and look at other FMCG stocks. checke link attach for good move in colpal.
Note
Chart is weekly, olan accordingly.Note
similar structure in LAURUS Labs
Note
At new low since jan. waiting for today's close
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