EquityPandit’s Outlook for DABUR for the week (January 02, 2017 – January 06, 2017) :

DABUR:

Dabur closed the week on positive note gaining around 6.10%.

As we have mentioned last week that support for the stock lies in the zone of 260 to 262 levels from where the stock has broken out in the month of April-2016. If the stock manages to close below these levels then the stock can drift to the levels of 251 to 253 from where the stock broke out of the consolidation zone between January-2016 to March-2016. During the week the stock manages to hit a low of 259 and close the week around the levels of 278.

Minor support for the stock lies in the zone of 272 to 274 from where the stock broke out on intraday basis. Support for the stock lies in the zone of 265 to 267. If the stock manages to close below these levels then 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 & December-2016.

Resistance for the stock lies in the zone of 280 to 282 where 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 200 Daily SMA and top for the month of December-2016 is lying.

Broad range for the stock is seen between 268 to 270 on lower end and 285 to 288 on upper end.