DABUR trade ideas
Dabur : Weakest Charts among FMCG Dabur is clearly trading in a range bound manner.
And looks like it we are about to breach the 460 lvls in coming few weeks, following an ABC corrective pattern.
MACD is also clearly unable to break on upside and is range bound and pushing downwards.
Looking for a short around 490-510 lvls in coming days with sl at 517.
Trade Setup I shared Last Day in DaburLast day I shared a trade setup in DABUR where I mentioned that Dabur has come out from a channel pattern if it goes back to test those level I will take a entry.
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DABUR Pullback EntryDabur came out of the trendline and also broke the neckline kind of level
Price can retrace back and retest the level to move in the direction.
DABUR INDIA WEEKLY |Likely to have a Breakout soonThe symmetrical triangle formed is likely to give a breakout by next month. It is ideally a 50-50 scenario of breaking upwards or downwards.
This week (20th July,2020 onwards) ,expect a rise up to the rejection line.
Upcoming 2-3 weeks a slight fall. Then the breakout.
Considering the lockdown situation, the decreased sale might lead to a breakdown in the downward direction.
But since people are favoring ayurvedic products more these days, the chances are 50-50.
As of now, for this week, go Long. Short later.
DaburCan sell dabur here with SL at 506 if looking for intra and 516 for positional
Highest OI at 500 CE and put at 480 PE so expecting it to be in this range
Target can be 488/480
Dabur long entry can be taken.Now Dabur stock is on bullish mode & making higher highs for past few days. Now as marked the red trend line we can take the long entry above the level of 490 for the target price of 505. Stock is trading above the 50 & 20 EMA moving average. As can RSI is at 68 level & negative divergence seen so a bit cautious but stock is more likely to move upward. So add the stock in your watch list to see the price action movement in the stock.
Always do trading as per your Reward to Risk ratio means Never risk more than you can afford to lose on a single trade. Please keep patience & wait for the levels means Sit and wait for the right opportunity. Request to like & follow for more such ideas of technical analysis learning.The idea sharing is for educational purpose only. In case any suggestion advice required feel free to ask .
Positional Trade in Dabur..9% Upside target..!!Chinese Double bottom pattern formation dabur.
****Disclaimer****
Trade with risk management but don't get afraid of taking risks because the winner is who BETS as well as never gets short of CHIPS...!!
DABUR INDIATriangle breakout possible
Soon it is going to be 515
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DaburDabur moving in triangle
we can see it is moving towards 5th point...
would we have a breakout or fakeout or reversal from the point???
but surely a nice move awaits in it...
chart is for study purpose only!!!
Dabur - Fractal and chart pattern analysisBreak of triangle on any of the sides could result in ~20 points move in that side
