DaburDabur has been consolidating since the last two weeks after a sharp run up.
It has now reached the 20 day moving average (Rs 590) and witnessed buying interest.
The hourly momentum indicator has triggered a positive crossover which is a buy signal.
Thus, there is a high probability that the stock can witness buying interest over the week.
We expect the stock to target levels of Rs 628 – Rs 639.
Dabur
Dabur has been consolidating since the last two weeks after a sharp run up. It has now reached the 20 day moving average (Rs 590) and witnessed buying interest. It has formed a Bullish candle stick pattern on the daily charts.
The hourly momentum indicator has triggered a positive crossover which is a buy signal. Thus, there is a high probability that the stock can witness buying interest over the week. We expect the stock to target levels of Rs 628 – Rs 639. A stoploss of Rs 585 should be maintained for the long positions.
