On daily charts, Dabur took support near 540 level which a good support zone from past 1 year. Whenever it comes near this range either it goes sharp up or down. So we its look good for long trade because of following reasons....
1. It took support on support zone and also there is trendline from down which acts as a good dynamic support.
2. BY Fibonacci levels it rejected 0.5% level so its good retracement from bottom .
3. In coming days it may retest 600+ level.
So we can go long as soon it crosses 575 level with volume on daily charts, also it should close above 575 on daily chart. If it not sustain then it may fall. So trade with stoploss. Then good bye.
1. It took support on support zone and also there is trendline from down which acts as a good dynamic support.
2. BY Fibonacci levels it rejected 0.5% level so its good retracement from bottom .
3. In coming days it may retest 600+ level.
So we can go long as soon it crosses 575 level with volume on daily charts, also it should close above 575 on daily chart. If it not sustain then it may fall. So trade with stoploss. Then good bye.
