EquityPandit’s Outlook for DABUR for the week  (Oct 16, 2017 – Oct 19, 2017) :

DABUR:

Dabur closed the week on positive note gaining around 1.90%.

As we have mentioned last week, that minor support for the stock lies in the zone of 308 to 310. Support for the stock lies in the zone of 300 to 303 where Fibonacci level are lying. If the stock manages to close below these levels then the stock can drift to the levels of 292 to 294 where high of the month of June-2017 and medium term moving averages are lying. During the week the stock manages to hit a low of 312 and close the week around the levels of 322.

Support for the stock lies in the zone of 320 to 323 from where the stock broke out of August-2017 high. If the stock manages to close below these levels then the stock can drift to the levels of 314 to 316 from where the stock broke out after consolidation.

Resistance for the stock lies in the zone of 328 to 330. If the stock manages to close above these levels then the stock can move to the levels of 337 to 340.

Broad range for the stock in the coming week can be seen between 300 to 305 on downside & 335 to 340 on upside.