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Nifty FMCG index has started rebounding after taking support around 61.80% retracement level and a Bullish Engulfing pattern on weekly chart. From FMCG space, Dabur came out from the consolidation phase of last one month and sustaining well above the breakout level. At the same time, RSI is also moving above Trendline breakout levels on daily scale and thus showing strength in the counter. · Considering overall chart structure, we reiterate our positive stance on the stock for extension in ongoing up move towards 495 with a trailing stop-loss of 467.
Buy Dabur India Limited SL 467Target 495 CMP 478
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