Dabur, CEAT: Two stocks that are flashing bullish signals on tech charts

The risk reward ratio for CEAT looks highly lucrative at current levels to go long for a bounce.

BUY DABUR | TARGET: Rs 605 | STOP LOSS: Rs 565

A couple of sessions back; the stock of DABUR confirmed a breakdown from the bearish Head and Shoulder pattern at the level of 570. The after it found support exactly at the placement of 200 DEMA and 200 DSMA. From there the stock has reversed and indicates possibility of failure of HnS pattern. Generally in such scenario; stock undergoes a faster rally on the upside. Hence, Traders are advised to buy the stock near 580 with a stop loss of 565 for the upside potential target of 605 in 2