EquityPandit’s Outlook for DABUR for the week  (May 15, 2017 – May 19, 2017) :

DABUR:

Dabur closed the week on positive note gaining around 2.70%.

As we have mentioned last week that 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. During the week the stock manages to hit a high of 285 and close the week around the levels of 280.

Minor support for the stock lies in the zone of 273 to 276. Support for the stock lies in the zone of 267 to 269 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 283 to 286 where 200 Daily moving averages and Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 292 to 295 where the stock has formed a top in the month of April-2017.

Broad range for the stock in the coming week can be seen between 270 to 272 on downside & 290 to 292 on upside.