EquityPandit’s Outlook for DABUR for the week (January 25, 2016 – January 29, 2016):

DABUR:

Dabur closed the week on negative note losing around 3.60%

As we have mentioned last week that stock has close around the strong support zone of 250. If the stock closes below this levels for 2 days then the stock will break down from the large Head & Shoulder pattern which the stock has formed during the whole 2015. Target for this Head & Shoulder pattern can be in the range of 175 to 180 in 5 to 6 months time frame. For short term if the stock closes below this levels then the stock can drift to the levels of 235 where 500 Daily SMA and 100 Weekly SMA is positioned. During the week the stock manages to hit a low of 239 and close around the lowest levels.

Resistance for the stock lies in the zone of 250 from where the stock has broken down from the large Head & Shoulder pattern which the stock has formed during the whole 2015. If the stock closes above this levels then the stock can move to the levels of 260 to 270 where short term moving averages are positioned.

Support for the stock lies in the zone of 235 to 240 where 500 Daily SMA and 100 Weekly SMA is lying. If the stock closes below this levels then the stock can drift to the levels of 175 to 180 where lies the target for the broken Head & Shoulder pattern

Broad range for the stock is seen between 225 to 230 on lower end and 250 to 255 on upper end.