Dabur India after breaking its uptrend journey at 320.00 turned bearish and ratraced up to 60% and has moved towards its previous level of 320.00, the stock seems to be looking strong technically to target. trader may go long on this stock up to target of 320.00 level and it may move further upward.
Dabur's chyawanprash- if you get it for 286-288 price range likely to be a good deal as prices can rise because people realized that Dabur still at its best in giving good health, but at the same time from long run let us not consume too much Dabur's chyawanprash -infact too much of something is always harmful.
Likely to travel atleast till 320 mark which had...
Last Price@284.55
In 2008- Fresenius SE & Co- A german healthcare bought a 76.2 % stake in Dabur when it was trading between 60-80 zone since then Dabur never looked down & its almost 8 years have passed- & Dabur has kissed highs@320.
What Next
Dabur's upward pace could slow down in current scenario because momentum indicator-MACD hasn't made a new high where...
Formation looks like an expanded flat for Dabur. The final corrective wave C is o=in the formation with the completio of wave 1. The correction is expected to pull the price to around 200 levels in the long term. First target can be around 250 ~ 230 levels.
Dabur has given a breakout of the declining trend line today. The 13 day EMA Force Index has also crossed over to positive territory supporting the breakout above. Volumes are a little low though, but good changes of it retesting its previous highs of 320.
