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Thursday, December 16, 2010

Dabur at Resistance: Fails to break through


DABUR Daily NSE Stock Chart Technical Analysis:

Dabur has failed to break through its resistance and fell back after an intra day rally above the resistance.

Market Outlook:
  • Tomorrow seems not very different, and the price may make a feeble attempt to again reach resistance, but nothing significant expected.


Technical Indicators:
  • There is a one-year old line of support which is now acting as resistance since the price fell below it on 11 Nov.
  • The price attempted to break through the resistance and formed an intraday high above this line, but at EOD it had fallen even below the opening price.
  • If the price closes above resistance, we'll look at the opportunity to go long.  As of now, no trade signal on this chart.


DABUR Daily NSE Stock Chart Technical Analysis

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