EquityPandit’s Outlook for DABUR for the week (May 30, 2016 – June 03, 2016):

DABUR:

Dabur closed the week on positive note gaining around 6.70%.

As we have mentioned last week that resistance for the stock lies in the zone of 280 to 283 from where the stock has broken down from the flag formation pattern. If the stock manages to close above these levels then the stock can move to the levels of 290 to 295. During the week the stock manages to hit a high of 301 and close the week around the levels of 296.

Resistance for the stock lies in the zone of 300 to 303 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 312 to 315 where life time high for the stock is lying.

Support for the stock is lying in the zone of 277 to 280 where short term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 268 to 270 where 200 Daily SMA is lying.

Broad range for the stock is seen between 280 to 285 on lower end and 305 to 310 on upper end.