8,800 is likely to act as support for Nifty this week

Nifty closed the day with half a percentage profit. The major contribution has come from Banking stocks after HDFC bank’s FDI limit is enhanced. As per our analysis, Coal India & Asian Paints have reversed the trend. Hindustan Unilever and Idea are showing sign of weakness. These stocks are likely to crack down if the down trend continues.

Read more

Buy Dabur India with target of 261

Dabur India Ltd (NSE:DABUR) is showing strength in the daily chart. In the candlestick chart, the chart has formed Morning Doji Star pattern. It is three days pattern, where the first day stock goes down and on the next day there won’t be an significant direction, but on the third day there will be a positive close with reasonable volume.

Dabur had negative close on 25th and indecisive doji pattern on 27th. Decisive positive close on 28th with volume of 2.2 Million shares in National Stock Exchange. The 10 days average volume is currently at 1.3 Million.

Read more