NSE: Dabur India heading for Break out to 484+
Showing a triangle pattern formation from high 484 in Aug to recent low of 363 in Nov.
From recent low 363 to high of 458 , current price action is above 0.618 % fibo level.
Stock is oscillating in the range of 413 and 438
Possible buy at current level with stop loss at 399 and targets 458, 474, 484 is insight
Breakout above 484 will take it to next target 500+
Though 484 will act as strong resistance.
Time frame looks 6 to 12 weeks
Use stop loss and trail stop loss
Showing a triangle pattern formation from high 484 in Aug to recent low of 363 in Nov.
From recent low 363 to high of 458 , current price action is above 0.618 % fibo level.
Stock is oscillating in the range of 413 and 438
Possible buy at current level with stop loss at 399 and targets 458, 474, 484 is insight
Breakout above 484 will take it to next target 500+
Though 484 will act as strong resistance.
Time frame looks 6 to 12 weeks
Use stop loss and trail stop loss
Trade active:
Touched high of 456 near to first target and breakout level.
Trade active:
Hit First Target 458.
Trade closed: target reached:
Hit First Target 458 and high of 464. book profit or trail stop loss. gain 42 points.