Buy and Hold....

Dabur (BUY, between Rs99.5-100.5, Target Rs106): Dabur on the weekly chart has signaled breakout from the inverted head and shoulder pattern above the levels of Rs101 with spurt in volumes. Such a breakout also coincided with prices moving above the 200 DMA thus corroborating new uptrend in the counter. The amplitude of Inverted H&S suggest the upside projection of Rs115 in the near term with stock considered as defensive at the time volatility in the broader markets. The volumes too have been expanding in the up tick which supports buying argument in the counter. We advise buying stock in the range of Rs99.5-100.5 with stop loss of Rs97.75 for target of Rs106.