Stock Analysis DABUR

It is on bullish pattern. It took support at 495 where its 20MA crosses its 50 MA. On the monthly chart it faces resistance at 530-532 so if it breaks then it can upto 560 with a stoploss of 20 points so the R:R will be 1:2 but if starts moving downward it will first take support at 100 MA at 490 level. As its has made a M pattern so kindly watch if breakout doesn't happen.

On weekly chart it is visible that It is not closing below its 20MA taking support at its 50 MA again and again where demand zone created but facing resistance at 532-535 if it break then the first target will be 540 & then 560. On the downside it will take support at 494 i.e. 20MA.

On the daily charts it is visible that it took support at 100 ts 200MA & its RSI is also looking good which is 52 at hourly time frame so look for price movement if it happens as consumption's demand is increasing day by day. Otherwise if It starts moving downward then it will take support at 515 with a stoploss with 200MA on hourly time frame. As it is respecting its 200MA very well.

I hope this analysis will help you for the upcoming trading session.
Thank you
Analysis by
Akshay Singh

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