EquityPandit’s Outlook for DABUR for the week  (May 08, 2017 – May 12, 2017) :

DABUR:

Dabur closed the week on negative note losing around 4.90%.

As we have mentioned last week that minor resistance for the stock lies in the zone of 289 to 291. Resistance for the stock lies in the zone of 298 to 300 where Fibonacci level is lying. If the stock manages to close above these levels then the stock can move to the levels of 305 to 306 where the stock has formed a top in the month of November-2016. During the week the stock manages to hit a high of 288 and close the week around the levels of 273.

Support for the stock lies in the zone of 265 to 267 where Fibonacci level is lying. If the stock manages to close below these levels then the stock can drift to the levels of 260 to 262 where the stock has formed a bottom in the month of December-2016 and February-2017.

Resistance for the stock lies in the zone of 275 to 277 where Fibonacci level and medium term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 281 to 283 where short term and 200 Daily moving averages are lying.

Broad range for the stock in the coming week can be seen between 260 to 262 on downside & 280 to 282 on upside.