Dabur ready for a fresh bullish rally

The stock has attempted a ascending triangle breakout on the daily charts  and tested the all time highest high with a good increase in volume.

The primary trend of the stock is bullish as the stock is forming higher tops and higher bottoms and also the stock price is above the important moving average parameters.

The immediate support is placed in the zone of 470- 480 levels while major support is placed around 390 levels.

The stock has been underperforming for the last few days despite attempting a triangle breakout. Hence, 535 level should be the key level to watch, if the stock manages to trade above the same then it can extend a fresh upside rally.  

2 Comments

  1. P patel

    gap between two support are very high , 470-480 to 390 ….why ?

    Reply
    • Valarmurugan

      470 level is the immediate support and and the 390 level is the major support

      Reply

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Article Info

Published Date: October 12, 2020
Author: Valarmurugan

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