Dabur India Ltd- STOCK ANALYSIS

8 set

https://www.tradingview.com/x/C38rTBuo/Dabur India Ltd- STOCK ANALYSIS

Key Observations:
Current Price: ₹644.40

Resistance Level:

The stock has been trading around ₹644, near its previous high.
There is a marked upward projection of 23.70% (154.25 points), indicating a potential target price of ₹800.
Support Level:

A previous support level can be seen near ₹475, as indicated by the significant fall of 25.83% (-168.65 points) in the earlier period. This forms a strong historical support zone.
Potential Move:

The chart shows a possible upward movement of 23.7%, suggesting that the price could rise to ₹800 if it breaks above the resistance level.
If the stock faces downside pressure, it could revisit earlier support zones around ₹475-₹500.
Volume Indicator (CVD - Cumulative Volume Delta):

The CVD shows a significant selling pressure with -315.539K, indicating a bearish sentiment in the market for now.
Analysis:
Bullish Scenario: If the stock breaks through its current resistance at ₹644, it may move towards ₹800, gaining about 23.7% from the current price.
Bearish Scenario: On the downside, there’s a risk of a pullback to around ₹475-₹500 if the stock does not sustain above ₹644.
Neutral Scenario: The stock is at a critical level near ₹644, which is a pivot zone for deciding the next major trend.
Conclusion:
The stock is currently positioned at a key level, and the next move could either be a breakout towards ₹800 or a retracement towards its support zone near ₹475. Watch for price action and volume to confirm the next trend. The 23.7% target price gain is appealing for a bullish move, while the downside risk remains at about 25.83%.