Dabur India Ltd. (NSE: DABUR) ANALYSIS on a monthly time frame.

2 oct

Dabur India Ltd. (NSE: DABUR) on a monthly time frame.
Key Observations:
Price Movement:

The stock saw a correction of 26.91% from its previous high, dropping by ₹176.10.
After the decline, the price has now recovered and is trading at ₹619.00.
Target Projection:

The chart suggests an upside projection, with a potential target of ₹803.15 (a 28% increase from the current price).
This indicates a bullish outlook for Dabur India Ltd., forecasting further gains in the medium to long term.
Support & Resistance:

Support Zone: The stock found strong support around the ₹450-₹500 range during the correction.
Resistance Zone: The projected target area near ₹800 will act as a significant resistance level based on this chart.
Volume & CVD:

The Cumulative Volume Delta (CVD), showing selling pressure, is currently negative, indicating that the recovery might face resistance. However, the current price action still leans bullish despite this volume pressure.
Conclusion:
Dabur India Ltd. is currently in a recovery phase after a significant correction. The chart analysis suggests a potential rise of around 28% with a target price near ₹800 in the coming months. The stock might attract swing traders and long-term investors looking for growth potential.