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Dabur Technical Analysis suggests that risk-reward is not favorable. The stock is trading near its possible top. Dabur is a highly volatile stock and you observe that on a daily chart the size of the candle and wicks or shadow is very long.
On price action, Dabur Technical Analysis suggests that this stock trade in a channel. Currently, it is trading in a downward facing channel. The key support level is near 360 and the stock can face resistance at 417 and 457.
Fibonacci retracement backtesting suggests that this stock normally retraces from 78.6% level and in current Fibonacci Retracement, this level is near 438.
Dabur Technical Analysis on moving average trading setup shows that it is trading below its 20-period exponential moving average. It might form an inverted triangle multibagger pattern.
The traded value and delivery % analysis suggest that recent up move was because of speculative positions and might not last for long.
Dabur Technical Analysis also point out that this stock does not have any correlation with the Nifty movement. Also, traders or investors are not active in the derivatives segment. Dabur is a part of Nifty FMCG and Nifty Consumption indices. Both the indices are currently not performing.
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