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Drumbeat: Ad Buzzaar
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Friday, July 10, 1998
Dabur a good buy at current level of Rs 263
Deepak Singh Tanwar
The current position of price chart and oscillators suggest that Dabur will remain bullish in the near future. After showing a sharp jump in the first quarter of 1998, the stock price started falling in the last week of April. From a level of Rs 390, price had fallen to Rs 217 recently.This fall however was without any divergence and was not supported by volumes. Now, when the market has recovered, this stock has also given a fresh buy signal. While the 21-day RSI has moved above the trigger line, the medium term MACD has also turned positive. Investment at the current level of Rs 263 can bring 10-15 per cent returns in the near future. Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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