EquityPandit’s Outlook for DABUR for the week (November 01, 2016 – November 04, 2016) :

DABUR:

Dabur closed the week on positive note gaining around 2.20%.

As we have mentioned last week that minor resistance for the stock lies in the zone of 285 to 287. Resistance for the stock lies in the zone of 290 where short term and medium term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 298 to 300 from where the stock has sold off in the month of September – 2016. During the week the stock manages to hit a high of 300 and close the week around the levels of 292.

Minor support for the stock lies in the zone of 285 to 287. Support for the stock lies in the zone of 280 to 282 where 200 Daily SMA is lying. If the stock manages to close below these levels then the stock can drift to the levels of 268 to 270 where the stock has formed a double bottom pattern.

Minor resistance for the stock lies in the zone of 294 to 296. Resistance for the stock lies in the zone of 299 to 301 from where the stock has sold off in the month of September – 2016. If the stock manages to close above these levels then the stock can move to the levels of 305 to 310.

Broad range for the stock is seen between 280 to 282 on lower end and 300 to 302 on upper end.