EquityPandit’s Outlook for DABUR for the week (January 23, 2017 – January 27, 2017) :

DABUR:

Dabur closed the week on negative note losing around 2.00%.

As we have mentioned last week that resistance for the stock lies in the zone of 280 to 282 where medium term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 286 to 288 where 200 Daily SMA and top for the month of December-2016 is lying. During the week the stock manages to hit a high of 283 and close the week around the levels of 276.

Support for the stock lies in the zone of 270 to 272 where the stock has formed a multiple bottom on intraday basis. If the stock manages to close below these levels then the stock can drift to the levels of 265 to 267 where Fibonacci level is lying.

Resistance for the stock lies in the zone of 280 to 282 where medium term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 286 to 288 where 200 Daily SMA and top for the month of December-2016 is lying.

Broad range for the stock is seen between 265 to 267 on lower end and 285 to 287 on upper end.