R-0224 Dabur break out GO LONG CMP 515 TGT 544/571 SL 488
1. Symmetrical Triangle breakout on the daily charts
2. Volumes have gone up along with the price rise in the recent past
3. Stock price has surpassed the previous top resistance of 514.70
4. Long build up is seen in the October series, where OI has gone up more than 15% with price rise of 5.5%
5. ADX indicator crossed –DI line on the upside, indicating starting of a bullish momentum, RSI and MACD are also
showing strength in the current uptrend
6. Considering the technical evidences discussed above, we recommend buying the Dabur October Future at 515-516
and average at 497, for the upside targets of 544 and 571, keeping a stoploss at 488.
2. Volumes have gone up along with the price rise in the recent past
3. Stock price has surpassed the previous top resistance of 514.70
4. Long build up is seen in the October series, where OI has gone up more than 15% with price rise of 5.5%
5. ADX indicator crossed –DI line on the upside, indicating starting of a bullish momentum, RSI and MACD are also
showing strength in the current uptrend
6. Considering the technical evidences discussed above, we recommend buying the Dabur October Future at 515-516
and average at 497, for the upside targets of 544 and 571, keeping a stoploss at 488.