This is weekly chart of DABUR on NSE (INDIA) with CMP at 395.65. Based on technical analysis, following observations indicate that it is an excellent investment opportunity.

1. A trendline drawn on the chart with multiple supports (shown by arrows) indicate that stock is in up trend and this trendline has been respected since May 2012.

2. Now the price has taken support nearly at 364 which was the resistance level earlier during October 2017 till April 2018.

3. RSI (14) shows multiple supports at 40 and tendency to bounce back. Now, RSI has taken support at 40 and shows upside bounce.

In view of above, it looks a good opportunity for an investment with stop at 308 which is just below the earlier resistance (acted as support now) shown by a horizontal line on the chart & marked as IMPORTANT SUPPORT. This stop considered is also below established trendline as explained above.

This is only to share my idea /viewpoints based on technical analysis and it should be considered as recommendation to invest or trade.

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