EquityPandit’s Outlook for DABUR for the week (February 20, 2017 – February 24, 2017) :

DABUR:

Dabur closed the week on positive note gaining around 0.50%.

As we have mentioned last week that minor resistance for the stock lies in the zone of 268 to 270. Resistance for the stock lies in the zone of 272 to 274 from where the stock broke down from consolidation. Resistance for the stock lies in the zone of 278 to 280 where Fibonacci level and medium term moving averages are lying. During the week the stock manages to hit a high of 271 and close the week around the levels of 266.

Support for the stock lies in the zone of 264 to 266 where Fibonacci level and where the stock has taken multiple support on daily basis is lying. If the stock manages to close below these levels then the stock can drift to the levels of 259 to 260 where the stock has formed a bottom in the month of December-2016.

Minor resistance for the stock lies in the zone of 268 to 270. Resistance for the stock lies in the zone of 272 to 274 from where the stock broke down from consolidation. Resistance for the stock lies in the zone of 278 to 280 where Fibonacci level 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 286 to 288 where Fibonacci level and 200 Daily SMA is lying.

Broad range for the stock is seen between 258 to 260 on lower end and 275 to 277 on upper end.