롱

DABUR Long opportunity

Hello All!

Dabur has been trading in a channel and respecting the lower trendline since the covid crash. It is now back on the lower trendline which generates a good opportunity to go long!

There are four major reasons supporting this:
1) Stock is taking support from its 200 daily EMA.

2)Stock is near its 50 Weelkly EMA

3)It's forming a bullish pin bar at the 61.8% fib level

4) It's in a strong support zone.

Thus there is a strong confluence. Plus the Reward to Risk ratio is great!

Do let me know your views on this!!

*NOT A CALL*