EquityPandit’s Outlook for DABUR for the week (November 15, 2016 – November 18, 2016) :

DABUR:

Dabur closed the week on negative note losing around 6.00%.

As we have mentioned last week that 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. During the week the stock manages to hit a high of 305 and close the week around the levels of 280.

Support for the stock lies in the zone of 278 to 280 where 200 Daily SMA is lying. If the stock manages to close below these levels then the stock can drift to the levels of 270 to 272 where 500 Daily SMA is lying.

Minor resistance for the stock lies in the zone of 288 to 290 where short term moving averages are lying. Resistance for the stock lies in the zone of 298 to 300 from where the stock has retraced 3 to 4 times. If the stock manages to close above these levels then the stock can move to the levels of 320.

Broad range for the stock is seen between 268 to 270 on lower end and 295 to 298 on upper end.