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.
Comment:
Chart is weekly, olan accordingly.
Comment:
similar structure in LAURUS Labs
similar structure in LAURUS Labs
Comment:
At new low since jan. waiting for today's close
