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

DABUR:

Dabur closed the week on positive note gaining around 1.70%.

As we have mentioned last week that minor support for the stock lies in the zone of 272 to 274. 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. During the week the stock manages to hit a low of 271 and close the week around the levels of 278.

Minor support for the stock lies in the zone of 275 to 276. Support for the stock lies in the zone of 271 to 273 where the stock has taken multiple support on daily basis. If the stock manages to close below these levels then the stock can drift to the levels of 265 to 267 where Fibonacci level is lying.

Resistance for the stock lies in the zone of 280 to 282. 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 268 to 270 on downside & 288 to 290 on upside.