Today's Pick - Dabur

We recommend a buy in Dabur India from a short-term perspective. It is evident from the charts that the stock has been consolidating sideways since mid January in a broad range between Rs 94 and Rs 110. The stock began its current up move form the key support level at Rs 94.

During this up move it crossed the 21-day moving average. The daily momentum indicator is rising in the neutral region towards the bullish zone and the weekly momentum indicator has taken support around 40 level and has started rising. The moving average convergence and divergence is also showing signs of bullishness and is likely to enter the positive territory.

We are bullish on the stock in the short-term. We expect the stock to move upwards until it hits our price target of Rs 110 in this period. Traders with short-term perspective can buy the stock while maintaining the stop-loss at Rs 94.

via BL