EquityPandit’s Outlook for DABUR for the week (January 16, 2017 – January 20, 2017) :

DABUR:

Dabur closed the week on positive note gaining around 1.80%.

As we have mentioned last week that 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. During the week the stock manages to hit a low of 273 and close the week around the levels of 282.

Support for the stock lies in the zone of 276 to 278 where Fibonacci ratio is lying. If the stock manages to close below these levels then the stock can drift to the levels of 270 to 272 where the stock has formed a multiple bottom on intraday basis.

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 270 to 272 on lower end and 288 to 290 on upper end.