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varadtambolkar
Jan 29, 2021 6:26 AM

Dabur looks weak. Short

DABUR INDIA LTDNSE

Description

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.

Comment

Chart is weekly, olan accordingly.

Comment



similar structure in LAURUS Labs

Comment

At new low since jan. waiting for today's close
Comments
CKDZ
look at volumes...whenever it gets rejected at higher level it falls with low seller volume..
Demand is still there! it may breakout in coming session
varadtambolkar
@CKDZ, yes agreed, but it wanted to make a new high, it wouldn't have taken 6 months at Higher level.

And the upper trend line would have been horizontal, more it starts to slope upward , selling pressure is evident on every new high.

Let's see what happens 😃
ReviveTraders
amazing analysis
varadtambolkar
@tradethetip, 🙏🏾🙏🏾🙏🏾
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