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Dabur is re-testing the 515-525 region for the 4th time now. In the last trading session, it was consolidating below resistance which is a good sign for people wanting to go long.
A break above this could give some upside momentum.
It is also making an ascending triangle on the Daily chart that has a higher probability of breaking towards the upside.
One thing to note though is that volume is not great in the up move and this could result in a failed rally or trap.
Please beware of this and trade safe.
Please note: These are my views and not trading advice. Please consult your financial adviser before making any trading decision.
In the end, either you follow your rules, or get eaten
Before you start reading kindly hit that like button. It motivates me to keep doing such work for free.
Thanks
Dabur is re-testing the 515-525 region for the 4th time now. In the last trading session, it was consolidating below resistance which is a good sign for people wanting to go long.
A break above this could give some upside momentum.
It is also making an ascending triangle on the Daily chart that has a higher probability of breaking towards the upside.
One thing to note though is that volume is not great in the up move and this could result in a failed rally or trap.
Please beware of this and trade safe.
Please note: These are my views and not trading advice. Please consult your financial adviser before making any trading decision.
In the end, either you follow your rules, or get eaten