DABUR trade ideas
Simple Trade Setup | DABUR | 16-08-2021NSE:DABUR
On Daily Time Frame it took good support and made reversal from 50DMA. And closed just at 21DMA on daily time frame.
Please refer below chart.
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Simple Trade Setup for 16-08-2021.
1) If it opens gap up in range of 590 and goes down and takes support from 588 or 585 then it will be a buy trade entry. But avoid trading in first 15-20 min to judge.
2) If it open flat at the same as 588 level and goes down and take support from 585 then it will be a buy trade entry. But if it break down 585 level then it will be sell trade entry.
But after opening at 588 level and it goes up and faces resistance then it will be quick sell trade till 585.
3) If it open between 585-588 range then if it breaks either side of the level then it will be a trade on that side. If it break down 585 then it will be sell trade and if it break 588 level then it will be a buy trade.
4) Now if it opens below the trendline and breaks the trendline in early 10min then don't chase, let it get down to test it and if it find the support from the trendline then it will be a buy trade and if the breakdown the trendline then take sell trade as per the level and considering other points mentioned above.
Note that all these levels will work as support, resistance, entry and target w.r.t price action on Monday, 16-08-2021. So if any of these levels works as resistance on Monday then from that level it will be short trade and vice-versa.
I hope I made it easy to understand it.
Do comment your doubt or suggestion.
All the best for next trading session.
Enjoy your weekend.
DABUR : CYPHER BULLISHRules Guiding Cypher Pattern
For every potential trading pattern, there must be guidelines and laid down rules. It is also applicable to Cypher Pattern. While identifying a cypher pattern, look out for five different points. They are the X, A, B, C, and D points. The lines between each of these points are legs.
These legs are also XA, AB, BC, and CD, respectively. The pattern begins with the XA leg, while the D point represents the end of the pattern. After identifying the points and legs, follow the directives;
The point B has to undergo reversal ranging between 38.2% and 61.8% of the leg XA. A minimum of 38.2 percent but not exceeding 61.8 percent.
Point C is an extended leg and goes beyond A – but must be of a minimum value of 127.2%, but it can still exceed 113%, moving up to a maximum of 141.4%.
The leg CD should intercept the XC at the 78.6 percent level.
The Region of Potential Retracement of point D is a vast limit where the price is heading to, and it lies between 38.2% to 61.8%.
Buy stock in uptrend Below are some indicators we can follow
RSI: around 40 good range for entry, best if can wait for 30-40
MACD: might also give an indication in the next 2-3 days
Long opportunity in DaburDabur has been trading in a channel pattern for a while now and today has shown signs of taking support and the demand zone of the channel pattern.
Water for the candle formation on the positive side in order to plan a long trade where the supply zone of the channel pattern can be the possible target.
DABUR ASCENDING CHANNELBUY ON DIPS WAIT FOR SUPPORT TO ENTER
Disclaimer: Please consult your financial advisor,
Investment/Trading in the securities market is subject to market risk, We are not responsible for your profit or loss
Dabur On Reversal... Chances of going up.. Keep on radar.. Chances of bouncing back.. Go long based on Price Reversal pattern.
Dabur-Upper endDabur at upper end of the weekly channel, can move down towards the lower channel. Any closing with volumes above 605 will invalidate this short. SL should be 607 DCB and Target can be 560.
Simple Trade Setup | DABUR | 03-08-2021NSE:DABUR
Tomorrow we may see a good move on either side.
Just follow the level to take the trade.
All the levels will work as support, resistance, entry & exit point with reference to how the price action is working on particular day near to that level.
Comment your doubt or suggestion. My personal view is bullish.
All the best.
DABUR may break the channel lineThe stock is now on the verge of breakout from the rectangular price range after the formation of cup and handle.
If it close above the channel line then a good upside move can be seen.
Keep tracking!
Keep supporting! Keep learning!
Breakout in Dabur - Daily and weekly chartDabur has given a great breakout on the daily and weekly charts for a bullish pattern. One can go long with a target of 630 maintaining a stop loss of nearly 2% from the current levels
