EquityPandit’s Outlook for DABUR for the week  (May 07, 2018 – May 11, 2018) :

DABUR:

Dabur closed the week on positive note gaining around 1.10%.

As we have mentioned last week, that resistance for the stock lies in the zone of 365 to 370 where the stock has formed a top in the month of January-2018. If the stock manages to close above these levels then the stock can move to the levels of 378 to 381 where Fibonacci extension is lying. During the week the stock manages to hit a high of 383 and close the week around the levels of 370.

Minor support for the stock lies in the zone of 355 to 360. Support for the stock lies in the zone of 343 to 348 where Fibonacci levels and medium term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 334 to 338 where Fibonacci levels and long term moving averages are lying.

Resistance for the stock lies in the zone of 380 to 385 where the stock has formed a short term top. If the stock manages to close above these levels then the stock can move to the levels of 390 to 395 where Fibonacci extension is lying.

Broad range for the stock in the coming week can be seen between 350 to 355 on downside & 385 to 390 on upside.