manuagarwal21

Dabur - Monthly Chart

NSE:DABUR   DABUR INDIA LTD
Dabur Monthly chart has a probability of Harmonic Butterfly Pattern
Harmonic Butterfly is a Reversal Pattern
It's got different variations ( by variation means, various defined Fibonacci ratios clusters )
So as per my observation of the chart first cluster which we will call Prz zone is around 525-530 levels.
If such zone is crossed with strong price action , stock may head towards its second cluster that comes around 570 levels.
And if resisted , stock may re-test 460 levels and if this long term trend has to continue , it should hold 460-440 levels on monthly basis.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.