EquityPandit’s Outlook for DABUR for the week  (July 31, 2017 – Aug 04, 2017) :

DABUR:

Dabur closed the week on positive note gaining around 2.60%.

As we have mentioned last week, that resistance for the stock lies in the zone of 303 to 305 where the stock has formed a top in the month of August-2016 and November-2016. If the stock manages to close above these levels then the stock can move to the levels of 316 to 320 where long term Fibonacci levels are lying and life time highs for the stock is lying. During the week the stock manages to hit a high of 314 and close the week around the levels of 310.

Minor support for the stock lies in the zone of 306 to 308. Support for the stock lies in the zone of 298 to 300 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 292 to 294 where short term moving averages and highs of the month of June-2017 is lying.

Resistance for the stock lies in the zone of 316 to 320 where long term Fibonacci levels are lying and life time highs for the stock is lying. If the stock manages to close above these levels then the stock can move to the levels of 330 to 335.

Broad range for the stock in the coming week can be seen between 300 to 302 on downside & 320 to 322 on upside.