The chart shows strength on daily and weekly chart. With hourly and minute the chart appears weak.
The only thing thatgives confidence is that 22 EMA has breached the 50 day SMA and till 390 level is sustained no need to panic.
If breaks 390 we may see 365 level.
ON WEEKLY CHART DABUR INDIA IS SHOWING A TREMENDOUS BULLISH SIDE WITH "W" chart formation,i have indiacted my view/personal opinion that is stock will boom up to the level as indicated by me on chart with optimal risk and reward ration.
(1) Price is not able to break the 200 EMA
(2) The price has touched the 50% Fib retracement and was not able to break it for 3 trading days
(3) RSI is in downward mode.
(4) Go short at 396-395 and target 385
DABUR INDIA on the Weekly appears to have a Doji at a strong support zone. If the price sustains above the HIGH of this Doji then, reversal is possible.
It certainly worth confirming this reversal and then enjoy the LONG ride!
Buy Dabur between 442-446 for a target of 455, 459 with a S.L for 438.9 intraday. One needs to avoid taking the trade if the target is achieved at the opening itself.
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