EquityPandit’s Outlook for DABUR for the week (February 15, 2016 – February 19, 2016):

DABUR:

Dabur closed the week on negative note losing around 1.40%.

As we have mentioned last week that support for the stock lies in the zone of 235 to 240 where 500 Daily SMA and 100 Weekly SMA is lying. If the stock closes below this levels then the stock can drift to the levels of 175 to 180 where lies the target for the broken Head & Shoulder pattern. During the week the stock manages to hit a low of 237 and bounce to close the week around the levels of 248.

Resistance for the stock lies in the zone of 250 from where the stock has broken down from the large Head & Shoulder pattern which the stock has formed during the whole 2015. If the stock closes above this levels then the stock can move to the levels of 260 to 270 where short term moving averages are positioned.

Support for the stock lies in the zone of 235 to 240 where 500 Daily SMA and 100 Weekly SMA is lying. If the stock closes below this levels then the stock can drift to the levels of 175 to 180 where lies the target for the broken Head & Shoulder pattern.

Broad range for the stock is seen between 230 to 235 on lower end and 265 to 270 on upper end.