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Initiation range: Rs 308-310
Target: Rs 325
Stop loss: Rs 298
Dabur has been hovering in a trading range of 300-320 for last two months or so and likely to resume its uptrend in near future. Traders can accumulate fresh in the given range.
Havells India - BUY
Last Close: Rs 492.85
Initiation range: Rs 487-492
Target: Rs 520
Stop loss: Rs 476
Havells India has been trading in a range for past three months while holding firmly above the support zone of multiple moving averages on daily chart. It has formed a fresh buying pivot now and likely to witness a strong surge in near future.
Tata Power- Sell September Futures
Last Close: Rs 78.70
Initiation range: Rs 79.50-80.50
Target: Rs 74
Stop loss: Rs 82.50
Tata Power has failed again to sustain above its resistance zone of moving averages viz. 50,100 EMA on daily chart and result in formation of a fresh shorting pivot. Further, indications from the confirmation indicators are also pointing toward slide ahead. Traders can use any bounce to go fresh short in the given range.