Shardul Kulkarni bullish on Dabur India

Shardul Kulkarni, Angel Broking is bullish on Dabur India.

Kulkarni told CNBC-TV18, "In case of Dabur India the chart structure is strong and you are clearly seeing strong higher top, higher bottom cycle. So long as the stock shows you a higher top, higher bottom cycle, I don’t think there is any reason whatsoever to change the bullish view. So this decline in the stock from Rs 132 to Rs 125 is a good chance to enter into this stock.”
He further added, “The stock has formed two bullish hammer patterns at a very strong support level of Rs 123. So place a stoploss at Rs 122.40, the stock is a slow mover but over the next few trading sessions it can give you decent returns, while the market moves sideways Dabur can move to around Rs 132. So I would be bullish in case of Dabur India.” Disclosure: We may have positions in the above stock or we have recommended them to our clients.