EquityPandit’s Outlook for DABUR for the week (October 05, 2015 – October 09, 2015):
Dabur closed the week on positive note gaining around 1.4%.
During the week the stock was trading in the tight range of 272 on downside to 280 on upside.
Resistance for the stock lies in the zone of 280 to 285, where 100 Daily SMA is positioned. If the stock manages to close above this levels the stock can move to the levels of 300.
Support for the stock lies in the range of 265 to 270 where 200 Daily SMA is positioned. If the stock closes below the support zone of 265 the stock can drift to the levels of 250 where long term trend-line support for the stock is lying.
The stock is forming a descending triangle pattern. If the stock manages to break out and close above this triangle pattern then the targets for the same can be in the range of 295.
Broad range for the stock is seen between 265 to 270 on lower end and 290 to 295 on upper end.