Hi Swing/Long Trader,
Dabur Good Candidate for Swing/Long Trade with strong Point or observation in chart as follows
Flag Pattern Formation.
Consolidation for 2 week above 200 DMA .
200 DMA act as strong support.
RSI bounce back from 60 Level mean Bullish momentum to continue.
CCI Indicator moved above zero mark & making higher high mean Bullish...
positional setup in nestle and as i written BEYOND technical analysis that truly means its not only about technical analysis and has certain fundamental things logically taken into consideration !
educational purpose only
Dabur seems to be in the C wave which means it could go back to the previous highs. Now it can either shoot up straight from current levels or consolidate first and then go high. The highlighted consolidation can repeat itself -in the opposite direction- which can give a good risk/reward than from current levels. Watch out for a consolidation and IF it happens,...
