Webinar :Register now for Commodity Ki Paathshala webinar on ‘FPOs & Agriculture Marketing-The Beginning of a New Era’ on January 22, 4pm
you are here: HomeNewsBusiness

Quant Pick - Dabur India: ICICI Direct

According to ICICI Direct, Buy Dabur in range of Rs 510-520 Target: Rs 605 Stop Loss: Rs 468 Time frame: Three months.

December 28, 2020 / 04:08 PM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

ICICI Direct's research report on Dabur India


Recommendation


Buy Dabur in range of Rs 510-520 Target: Rs 605 Stop Loss: Rs 468 Time frame: Three months.


Derivatives & Quantitative Outlook


Amid current bullish sentiments, FMCG stocks have seen relative underperformance but absorbed any selling pressure. Dabur India is among those few stocks that are trading near lifetime highs outperforming peers from the FMCG pack. We believe stocks like Dabur India will outperform the index in the short-term and witness buying interest. On the F&O front, the current open interest in the stock is significantly high and is at a two-year high. OI in the stock has increased more than 60% since the July series. We believe this accumulation was formed in August until November month. Despite weakness being seen in the stock during November and December, it did not prompt any major short additions. With the stock surpassing its major resistance levels of Rs 520, we expect fresh longs to be seen in the stock.


For all recommendations report, click here


Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies 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.

Broker Research
first published: Dec 28, 2020 03:50 pm

stay updated

Get Daily News on your Browser
Sections