Bouncing bank from 400!
Analysis:-
- After a sufficient fall, we see Dabur fighting and denying to break the downward support of 400 for the past 6 trading days. Today finally a green indicating a probable bounce back from these levels on the trendline.
- Looking back at how it fared with bollinger band shows a higher probability of reversal when it touches the lower end of the bollinger band - [ See the blue arrows ].
- Similar trend reversal indications from RSI and MACD as well.
Action:
- Buy at Current levels (400-405).
- Upward immediate target could be 420, then 440 and eventually 460.
- A less probable break downwards could take it to 370 ( Chance to accumulate! ).
Conclusion:-
With upcoming elections and results as the two important events which could move this counter, a long position here at the current levels could prove out to be fruitful in short term.
- After a sufficient fall, we see Dabur fighting and denying to break the downward support of 400 for the past 6 trading days. Today finally a green indicating a probable bounce back from these levels on the trendline.
- Looking back at how it fared with bollinger band shows a higher probability of reversal when it touches the lower end of the bollinger band - [ See the blue arrows ].
- Similar trend reversal indications from RSI and MACD as well.
Action:
- Buy at Current levels (400-405).
- Upward immediate target could be 420, then 440 and eventually 460.
- A less probable break downwards could take it to 370 ( Chance to accumulate! ).
Conclusion:-
With upcoming elections and results as the two important events which could move this counter, a long position here at the current levels could prove out to be fruitful in short term.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.