EquityPandit’s Outlook for DABUR for the week  (July 17, 2017 – July 21, 2017) :

DABUR:

Dabur closed the week on positive note gaining around 0.70%.

As we have mentioned last week, that minor support for the stock lies in the zone of 298 to 300. Support for the stock lies in the zone of 294 to 296 where break out levels for the stock is lying. If the stock manages to close below these levels then the stock can drift to the levels of 286 to 288 where Fibonacci levels are lying. During the week the stock manages to hit a low of 301 and close the week around the levels of 304.

Minor support for the stock lies in the zone of 298 to 300. Support for the stock lies in the zone of 294 to 296 where break out levels for the stock is lying. If the stock manages to close below these levels then the stock can drift to the levels of 286 to 288 where Fibonacci levels are lying.

Resistance for the stock lies in the zone of 303 to 305 where the stock has formed a top in the month of August-2016 and November-2016. If the stock manages to close above these levels then the stock can move to the levels of 316 to 320 where long term Fibonacci levels are lying and life time highs for the stock is lying.

Broad range for the stock in the coming week can be seen between 293 to 295 on downside & 315 to 317 on upside.