DABUR trade ideas
Dabur - Pull back trading - bullishThe pattern is a perfect example of pullback trading as the stock had given a multi-time frame breakout in the last session.
Now is forming a wedge pattern, indicating the bullishness to continue. And also note that FMCG sector is bullish.
This is not a recommendation, Its for educational purpose only.
Trade Safe!!
Dabur ready to make a new 52 week high!Dabur is looking strong as the overall structure inside the range is bullish. Strong wide range candles suggest the presence of strong buyers, who were accumulating at lower levels inside the range, and now as the price is breaking out, I expect a huge upside momentum, which can cause Dabur to make a new 52-week high and can easily move towards 600 and above. Fundamentally the stock is strong, with exceptional presence in the FMCG sector. It generates huge amounts of cash, which may or may not translate to huge dividends in the future(like ITC). It has a diversified product range, with its uniqueness being that it is an age-old company, with customers being loyal to its products such as toothpaste. Good stock for positional trading.
I am not a SEBI registered investment advisor and hence do not follow my analysis blindly.
Be aware of what you are trading and the risk associated with it.
Stock market is risky and you can lose a lot of your capital.
Be wise and trade carefully!
Grateful!🙏
DABUR INDIA LTD - Ascending Triangle BreakoutTarget on chart.
Disclaimer : The opinions and analysis expressed herein are for informational and educational purposes only and should not be considered as individual investment advise or recommendations. I am not your financial advisor. Risk it for Biscuit.