EquityPandit’s Outlook for DABUR for the week  (May 22, 2017 – May 26, 2017) :

DABUR:

Dabur closed the week on negative note losing around 1.60%.

As we have mentioned last week that 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. During the week the stock manages to hit a low of 271 and close the week around the levels of 275.

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.

Minor resistance for the stock lies in the zone of 279 to 281. 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 262 to 265 on downside & 285 to 288 on upside.