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varadtambolkar
2021년 1월 29일 오전 6시 26분

Dabur looks weak. 

DABUR INDIA LTDNSE

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Rising wedge pattern as marked by white lines.

RSI divergence also seen.

Every time Dabur tries to make a new high, it gets rejected. Since almost a year it is struggling to make proper new life high. since last 3 life highs volumes are decreasing for every life high.

look at the highs marked highs, rejection after every 3 to 5% move from highs.

only volumes are not supportive for shorting, but still i would avoid longs, even it makes a big move on upside will avoid and look at other FMCG stocks. checke link attach for good move in colpal.

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Chart is weekly, olan accordingly.

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similar structure in LAURUS Labs

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At new low since jan. waiting for today's close
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CKDZ
look at volumes...whenever it gets rejected at higher level it falls with low seller volume..
Demand is still there! it may breakout in coming session
varadtambolkar
@CKDZ, yes agreed, but it wanted to make a new high, it wouldn't have taken 6 months at Higher level.

And the upper trend line would have been horizontal, more it starts to slope upward , selling pressure is evident on every new high.

Let's see what happens 😃
ReviveTraders
amazing analysis
varadtambolkar
@tradethetip, 🙏🏾🙏🏾🙏🏾
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