Sunday, September 10, 2017

>DABUR the ayurvedic company

Hi friends,
                   Writing a post after a while .Weekend post is on dabur this stock has started to move up after lot of consolidation.In elliottwave terms it did wxyxz correction and started to move up et me post the chart .
We can see from the chart how dabur has corrected in a pattern.After the corrective pattern completion the stock started upward journey and started to consolidate near previous high.
Now this structure we can relate with classical tech analysis also this is quite similar to cup and handle pattern where cup is done handle underway.let me post that chart too.

The above chart shows the cup right now handle is under process in elliottwave terms we can say 1,ais done and 2,b is underway.Let me put a lower time frame chart to see the present situation of chart.

we can see a smallabc is done and now another abc is underway we could have a small trade building up here as long as 296 holds this stock can do 320,To complete c up Overall i think the stock should spend some time in 320-280 range before shooting up higher keep this stock on radar as an when nifty starts to correct we need a place to hide whats better than a FMCG stock :).


Murtaza Attari said...

As and when Nifty starts to correct .... #thinking

Optimistik19 said...

Dear Rish ! Do post your views for Nifty ... also if one needs to learn the wave analysis can you help ?

Rish said...

Sure i would post when something compelling comes up.What help do you require?

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