Dabur Rounding bottom patternDabur has formed a rounding bottom pattern on daily and weekly charts.
Buy above: 317
Target1: 350
Target2: 375
SL: 296
PS: There are different school of thoughts on trading a rounding bottom pattern, i.e entry, target, SL. Please use the entry, target and SL as per your analysis.
DABUR
Dabur Trendline/PF support Buy The stock seems to be in demand zone and getting support from trend line. The Pitchfork is catching the price behaviour beautifully so we can expect a rally till median line. Stop loss of Low of yesterday is quite small affordable so one can buy the stock now for a target of 290.
Dabur - Bearish Gartley Pattern It is been observed on a daily chart that the price action forms a bearish harmonic pattern known as Bearish Garltey pattern where the D leg is near to 88.6 retracement levels of XA leg and also 1.618 Fibs extension of AB leg.
Now it shall retace back to 38.2% levels of AD leg at around 290 levels.
Target: 290
Stoploss: 305