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Dabur had been making an ascending triangle on the daily chart and has broken towards the upside.
The upside breakout came with more volume than average for the past few sessions but not very substantial, thus I would be a bit careful I decide to go long (both from positional or intraday perspective).
This could also be a trap for retail traders.
Next level of resistance:
R1 - 516
R2 - 524
Support region:
S1 - 590
S2 - 580
Please note: These are my views and not trading advice. Please consult your financial adviser before making any trading decision.
“If most traders would learn to sit on their hands 50 percent of the time, they would make a lot more money.” - Bill Lipschutz
Before you start reading kindly hit that like button. It motivates me to keep doing such work for free.
Thanks
Dabur had been making an ascending triangle on the daily chart and has broken towards the upside.
The upside breakout came with more volume than average for the past few sessions but not very substantial, thus I would be a bit careful I decide to go long (both from positional or intraday perspective).
This could also be a trap for retail traders.
Next level of resistance:
R1 - 516
R2 - 524
Support region:
S1 - 590
S2 - 580
Please note: These are my views and not trading advice. Please consult your financial adviser before making any trading decision.
“If most traders would learn to sit on their hands 50 percent of the time, they would make a lot more money.” - Bill Lipschutz
* Support region:
S1 - 490
S2 - 480