EquityPandit’s Outlook for DABUR for the week  (July 30, 2018 – Aug 03, 2018) :

DABUR:

Dabur closed the week on positive note gaining around 3.50%.

As we have mentioned last week, that support for the stock lies in the zone of 365 to 370 from where the stock broke out of January-2018 high 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 350 to 355 where Fibonacci levels and long term moving averages are lying. During the week the stock manages to hit a low of 370 and close the week around the levels of 386.

Minor support for the stock lies in the zone of 378 to 382. Support for the stock lies in the zone of 365 to 370 from where the stock broke out of January-2018 high 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 350 to 355 where Fibonacci levels and long term moving averages are lying.

Resistance for the stock lies in the zone of 390 to 395 where Fibonacci extension and high for the month of June-2018 is lying. If the stock manages to close above these levels then the stock can move to the levels of 400 to 405.

Broad range for the stock in the coming week can be seen between 370 to 375 on downside & 400 to 405 on upside.