We advise initiating fresh long positions within Rs 420-425 range. It closed at Rs 428.15 on January 21, 2019.
After a swift rebound from Rs 362 to Rs 458 levels, Dabur India has retraced of late and formed a strong base around the support zone of multiple moving averages i.e.( 100/50) day EMA on the daily chart.
We believe that it is a healthy retracement after the strong surge and now it looks all set to resume the uptrend. We advise initiating fresh long positions within Rs 420-425 range. It closed at Rs 428.15 on January 21, 2019.
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