Dabur India Ltd is forming a Reverse Flag Pattern and it is about to give a breakout at 528.
Based on the pattern, one can enter around 528 after the breakout and target can be set around 487 with Stoploss of 540.
This gives us risk to reward ratio of 3.3. Pattern is forming on hourly chart.
Disclaimer:
This idea is only for education purpose, Please consult...
Dabur is currently trading and very strong resistance area that it faced over the past year,
had to wait and see if it breaks above that resistance area and thus giving us the opportunity to trade long in dabur.
Else if follows the same pattern as doing for the past year stock might retraces back thus giving us opportunity to go short.
for trading ideas one can...
Dabur has a history of giving pullback traders very good oppurtunity to enter. any breakout in dabur will be followed by a pullback. Traders can take long positions once the trend confirmed or think of entering early if you are a risk taker.
Note:
Avoid the stock if a big gap up or gap down is seen
Enter after the breakout happens and not before it
Do not...
