EquityPandit’s Outlook for DABUR for the week (October 03, 2016 – October 07, 2016) :
Dabur closed the week on negative note losing around 3.90%.
As we have mentioned last week that support for the stock is lying in the zone of 280 to 282 where the stock has formed a bottom in the month of August – 2016. If the stock manages to close below these levels then the stock can drift to the levels of 275 to 277 where 200 Daily SMA is lying. During the week the stock manages to hit a low of 266 and close the week around the levels of 271.
Support for the stock lies in the zone of 264 to 267 where 500 Daily SMA is lying. If the stock manages to close below these levels then the stock can drift to the levels of 250 to 253 from where the stock has broken out of the consolidation phase from January – 2016 to March – 2016.
Resistance for the stock lies in the zone of 278 to 281 where 200 Daily SMA is lying. If the stock manages to close above these levels then the stock can move to the levels of 290 where short term and medium term moving averages are lying.
Broad range for the stock is seen between 250 to 275 on lower end and 280 to 282 on upper end.