EquityPandit’s Outlook for DABUR for the week (December 19, 2016 – December 23, 2016) :

DABUR:

Dabur closed the week on negative note losing around 3.00%.

As we have mentioned last week that 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. During the week the stock manages to hit a high of 283 and close the week around the levels of 271.

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.

Minor resistance for the stock lies in the zone of 275 to 277. 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 260 to 262 on lower end and 280 to 282 on upper end.