DABUR Long opportunity
DABURHello 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*
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