Dabur - Monthly Chart
Dabur Monthly chart has a probability of Harmonic Butterfly Pattern
Harmonic Butterfly is a Reversal Pattern
It's got different variations ( by variation means, various defined Fibonacci ratios clusters )
So as per my observation of the chart first cluster which we will call Prz zone is around 525-530 levels.
If such zone is crossed with strong price action , stock may head towards its second cluster that comes around 570 levels.
And if resisted , stock may re-test 460 levels and if this long term trend has to continue , it should hold 460-440 levels on monthly basis.
Harmonic Butterfly is a Reversal Pattern
It's got different variations ( by variation means, various defined Fibonacci ratios clusters )
So as per my observation of the chart first cluster which we will call Prz zone is around 525-530 levels.
If such zone is crossed with strong price action , stock may head towards its second cluster that comes around 570 levels.
And if resisted , stock may re-test 460 levels and if this long term trend has to continue , it should hold 460-440 levels on monthly basis.
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