EquityPandit’s Outlook for DABUR for the week (August 17, 2015 – August 21, 2015):

DABUR:

Dabur closed the week on negative note losing around 5%.

As we have mentioned last week that the stock has been forming the Doji pattern on Daily chart since last 2 days. If the stock closes above the levels of 316 the stock can move to the levels of 325 to 330 but the stock manages to hit a high of 314 during the week and sold off to the levels of 290.

The stock has formed a Bullish Harami pattern on daily charts indicating the trend reversal. If the stock manages to close above the levels of 298 the stock can move to the levels of 310.

The stock has formed a Bearish Engulfing pattern on weekly charts indicating the trend reversal. The stock has to close above the levels of 315 to negate this pattern.

Support for the stock lies in the zone of 275 to 285 where 50 Daily EMA, 100 Daily SMA and trend-line support are positioned.

Resistance for the stock lies in the zone of 295 to 300 levels where short term moving averages are positioned above which the stock can move to the levels of 315.

Broad range for the stock is seen between 275 to 285 on lower end and 310 to 320 on upper end.