DABUR - Ascending Triangle Breakout

Nov 24, 2017

In the Hourly charts of DABUR, we see a clean Ascending triangle breakout with high volumes. Encouraging aspect is the fact that the stock has now managed to break above a crucial price band which acted as a source of support and now resistance. First Fibonacci target is at 350

Nov 29, 2017

Trade closed manually

Makes sense to exit this position, as the breakout fizzled out and tested the Apex of the triangle twice with no follow-through buying.