EquityPandit’s Outlook for DABUR for the week (March 28, 2016 – April 01, 2016):

DABUR:

Dabur closed the week on absolutely flat note.

As we have mentioned last week that 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. During the week the stock manages to hit a high of 256 and close the week around the levels of 249.

Resistance for the stock lies in the zone of 250 to 255 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 100 Daily SMA is lying.

Support for the stock lies in the zone of 240 to 245 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 235 to 240 on lower end and 255 to 260 on upper end.