Is Dabur on the Verge of a Big Move? The Chart Holds the Answer!

Hello Everyone!
I hope you all are doing great in life and in your trading journey! Today, I’ve brought you a stock that’s as sweet as honey. Yes, you guessed it right, I’m talking about India’s best honey and Ayurvedic products selling company — DABUR.

Dabur has always been known for its strong product lineup in the FMCG sector, with their products being staples in every Indian household. Let's dive into the technical setup and trading idea for Dabur and see if it's ready to provide us with some sweet returns!

Looking at the weekly chart of Dabur India Ltd., the stock has been showing clear price action within well-defined zones. Currently, Dabur is testing a historically strong support zone around the 510-495 range, a level that has previously acted as a reliable bounce area. This zone is crucial to watch, as a hammer candle has formed at this support, signaling a potential bullish reversal. If this support holds again, it could provide a strong buying opportunity.

The strong resistance zone near 660 marks the final target for this move, with a possible upside of around 37.94%. The stock is also showing potential for a swing trade as it approaches a reversal from the support. Keep an eye on price action around these levels to manage your risk effectively.

Disclaimer:-This analysis is for educational purposes only. Please trade responsibly and consult a financial advisor before making any decisions.

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