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

DABUR:

Dabur closed the week on positive note gaining around 1.90%.

As we have mentioned last week that resistance for the stock lies in the zone of 280 to 282. If the stock manages to close above these levels then the stock can move to the levels of 286 to 288 where Fibonacci level and 200 Daily SMA is lying. During the week the stock manages to hit a high of 291 and close the week around the levels of 288.

Support for the stock lies in the zone of 285 to 287 where 200 Daily MA and Fibonacci level is lying. If the stock manages to close below these levels then the stock can drift to the levels of 282 to 284 where break out levels are lying.

Minor resistance for the stock lies in the zone of 290 to 292. Resistance for the stock lies in the zone of 298 to 300 where Fibonacci level is lying. If the stock manages to close above these levels then the stock can move to the levels of 305 to 306 where the stock has formed a top in the month of November-2016.

Broad range for the stock is seen between 278 to 280 on downside & 300 to 302 on upside.