EquityPandit’s Outlook for DABUR for the week (August 24, 2015 – August 28, 2015):

DABUR:

Dabur closed the week on positive note gaining around 1%.

As we have mentioned last week that the stock has formed a Bullish Harami pattern on daily charts indicating the trend reversal. If the stock manages to close above the levels of 298 the stock can move to the levels of 310 and the stock hit a high of 309 and retraced to the levels of 298.

The stock has formed an Inverted hammer pattern on weekly charts in downtrend indicating the exhaustion of selling pressure in the stock.

Support for the stock lies in the zone of 280 to 285 where 50 Daily EMA and trend-line support are positioned.

Resistance for the stock lies in the zone of 300 to 305 levels where short term moving averages are positioned above which the stock can move to the levels of 315.

Broad range for the stock is seen between 280 to 285 on lower end and 315 to 320 on upper end.