EquityPandit’s Outlook for DABUR for the week  (May 21, 2018 – May 25, 2018) :

DABUR:

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

As we have mentioned last week, that minor support for the stock lies in the zone of 370 to 375. Resistance for the stock lies in the zone of 380 to 385 where the stock has formed a short term top. If the stock manages to close above these levels then the stock can move to the levels of 390 to 395 where Fibonacci extension is lying. During the week the stock manages to hit a high of 383 and close the week around the levels of 375.

Minor support for the stock lies in the zone of 365 to 370. Support for the stock lies in the zone of 343 to 348 where Fibonacci levels and medium term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 334 to 338 where Fibonacci levels and long term moving averages are lying.

Resistance for the stock lies in the zone of 380 to 385 where the stock has formed a short term top. If the stock manages to close above these levels then the stock can move to the levels of 390 to 395 where Fibonacci extension is lying.

Broad range for the stock in the coming week can be seen between 350 to 355 on downside & 395 to 400 on upside.