EquityPandit’s Outlook for Dabur for week (July 27, 2015 – July 31, 2015):
Dabur closed the week on positive note gaining more than 1%.
As we have mentioned last week that the stock can face stiff resistance in the zone of 300 to 305 and during the week the stock hit a high of 304.5 and sold off to the levels of 296.
The stock has formed a Shooting star pattern on weekly charts indicating the end of the uptrend in the stock. The stock has to sustain above the levels of 305 to negate this pattern.
Support for the stock lies in the zone of 280 to 285 where short term, medium term moving averages and trend-line support are positioned.
Resistance for the stock lies in the zone of 305 to 310 levels.
Broad range for the stock is seen between 280 to 285 on lower end and 305 to 310 on upper end.