EquityPandit’s Outlook for DABUR for the week (December 26, 2016 – December 30, 2016) :

DABUR:

Dabur closed the week on negative note losing around 3.40%.

As we have mentioned last week that support for the stock lies in the zone of 270 to 272 where the stock has taken support in the month of October-2016 and November-2016. If the stock manages to close below these levels then the stock will break down from the 2 months of consolidation and the stock can drift to the levels of 260 to 262 levels from where the stock has broken out in the month of April-2016. During the week the stock manages to hit a low of 261 and close the week around the levels of 262.

Support for the stock lies in the zone of 260 to 262 levels from where the stock has broken out in the month of April-2016. If the stock manages to close below these levels then the stock can drift to the levels of 251 to 253 from where the stock broke out of the consolidation zone between January-2016 to March-2016.

Minor resistance for the stock lies in the zone of 268 to 270. Resistance for the stock lies in the zone of 275 to 277 where long term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 280 to 282 where medium term moving averages are lying.

Broad range for the stock is seen between 250 to 252 on lower end and 270 to 272 on upper end.