Dabur India

By ICICIDirect.com 

Friday, April 13, 2012
     

ICICIDirect.com is bullish on Dabur India and has recommended buy rating on the stock with a target of 123 in its April 12, 2012 research report.

Dabur India is a natural health care and ayurvedic company. It operates is 3 businesses - Consumer Health Division (CHD), International Business Division (IBD) and Consumer Care Division (CCD). Its CHD business offers a variety of healthcare and related products. Its IBD business offers famous brands, like - Vatika and Dabur Amla. Its CCD business deals with 4 areas - food items, home care, personal care and healthcare.

According to ICICIDirect.com, a look at the long term price chart reveals that the share price of Dabur India remains in a healthy uptrend, consistently forming higher peaks and troughs on the weekly charts. Over the past couple of years, the stock has ranged between 90 and 120 providing ample entry and exit opportunities for medium term traders. This consolidation range has held steady despite the overall weakness in the broader indices during 2010-2011. Even the recent steady up move from the January 2012 lows of 92-95 started from the lower band of the consolidation range. An important observation on the price charts is that the stock has recently witnessed a positive crossover in the medium term (50 DMA) and long term moving averages (200 DMA). In technical parlance, such an event is termed as a Golden Cross, indicating a shift in momentum in favour of bulls from a medium-term perspective. The stock price also breached out of the past seven week’s consolidation range with volume spurt indicating positive momentum.  ICICIDirect.com expects prices to continue the northward journey and head towards the upper band of the consolidation range to re-test its all-time high of 123 over the medium term. It recommends accumulating the stock in the range of 109 – 106 for a target of 122.80, with a protective stop loss in place at 100.80.

Currently, Dabur India is being traded at 110.95. Its 52 week high is 123.20 and 52 week low has been 92.00. It is currently being traded at an average volume of 558,642.

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