EquityPandit’s Outlook for DABUR for the week (May 23, 2016 – May 27, 2016):

DABUR:

Dabur closed the week on negative note losing around 4.30%.

As we have mentioned last week that minor support for the stock lies in the zone of 275 to 280. Support for the stock lies in the zone of 270 where 200 Daily SMA is lying. If the stock manages to close below these levels then the stock can drift to the levels of 250 to 255 where 100 Daily SMA and trend-line support for the stock is lying. During the week the stock manages to hit a low of 276 and close the week around the levels of 277.

Resistance for the stock lies in the zone of 280 to 283 from where the stock has broken down from the flag formation pattern. If the stock manages to close above these levels then the stock can move to the levels of 290 to 295.

Support for the stock lies in the zone of 270 where 200 Daily SMA is lying. If the stock manages to close below these levels then the stock can drift to the levels of 250 to 255 where 100 Daily SMA and trend-line support for the stock is lying.

Broad range for the stock is seen between 268 to 270 on lower end and 288 to 290 on upper end.