EquityPandit’s Outlook for DABUR for the week (December 05, 2016 – December 09, 2016) :

DABUR:

Dabur closed the week on positive note gaining around 3.10%.

As we have mentioned last week that support for the stock lies in the zone of 270 to 272 where the stock has taken support in the month of October-2016 and November-2016. If the stock manages to close below these levels then the stock will break down from the 2 months of consolidation and the stock can drift to the levels of 260 to 262 levels from where the stock has broken out in the month of April-2016. During the week the stock manages to hit a low of 275 and close the week around the levels of 284.

Support for the stock lies in the zone of 278 to 280 from where the stock has broken out on intraday basis. Support for the stock lies in the zone of 270 to 272 where the stock has taken support in the month of October-2016 and November-2016. If the stock manages to close below these levels then the stock will break down from the 2 months of consolidation and the stock can drift to the levels of 260 to 262 levels from where the stock has broken out in the month of April-2016.

Resistance for the stock lies in the zone of 283 to 285 where 200 Daily SMA and medium term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 295 to 298.

Broad range for the stock is seen between 272 to 275 on lower end and 295 to 300 on upper end.