We recommend to buy Dabur above Rs 412 for the target of Rs 448 with the stop loss of Rs 388 on closing basis, says Shabbir Kayyumi of Narnolia Financial Advisors.
In Dabur India, occurrence of Morning Star at bottom levels is showing an upsurge on the higher side. RSI took a flip on positive side from its oversold levels creates the positive sentiment.
Moreover, declining histogram of MACD also looking conducive for the scrip. Furthermore, strong support is seen near Rs 390 levels where 200-DMA is seen.
Breakout is expected to come above Rs 412 from where buying momentum in the stock will increase in coming sessions. Looking at all these mentioned factors, we recommend to buy Dabur above Rs 412 for the target of Rs 448 with the stop loss of Rs 388 on closing basis.Disclaimer: The author is Head - Technical & Derivative Research at Narnolia Financial Advisors Ltd. The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.