DABUR trade ideas
Dabur India Could be a Short if it stays below 307Dabur India Could be a Short if it stays below 307
SL=309.50
TGT 298.00
FYI - SL is strict.. If it gets hit, you still will be alive to play tomorrow
Dabur - Buy or Sell ? - 6/7/2016According to Wikipedia Dabur is the fourth largest FMCG ( Fast Moving Consumer Goods ) company. Now the question is, whether it can take on Patanjali to retain / gain market share. Unilever, Nestle and Colgate are already feeling the heat. In our opinion, Patanjali products still have huge room to grow. In that process it will definitely grow by acquiring new customers as well as by snatching few from rivals.
Dabur's stock has performed really well alongside broader market recovery and now it is approaching previous all time high levels near 320. It may not be wise to chase the momentum because it might turn out to be the case of losing thousand while picking ten. 240 / 260 and 280 are very important support levels on weekly chart. For traders perspective, selling rallies near 320 with tight stop-loss makes sense while trading it with long bias near 260 may turn profitable.
DABUR - AB=CD BEARISH PATTERN (SELL)Top 3 Reasons to Short this one,
1. Bearish AB=CD pattern completion
2. Elliott Waves, 5 impulse waves completed.
3. Bearish Divergence
Risk Reward: 1-2
Dabur : Resistance retest (Short)Price is raising up towards our region as expected and I will be going short here with my stops above the double top
Not describing in detail bcos market is very near to our zone & we may miss trade chance.
Happy trading
