EquityPandit’s Outlook for DABUR for the week (March 14, 2017 – March 17, 2017) :

DABUR:

Dabur closed the week on negative note losing around 1.40%.

As we have mentioned last week that minor support for the stock lies in the zone of 272 to 274. Support for the stock lies in the zone of 264 to 266 where Fibonacci level and where the stock has taken multiple support on daily basis is lying. If the stock manages to close below these levels then the stock can drift to the levels of 259 to 260 where the stock has formed a bottom in the month of December-2016. During the week the stock manages to hit a low of 273 and close the week around the levels of 273.

Minor support for the stock lies in the zone of 272 to 274. Support for the stock lies in the zone of 264 to 266 where Fibonacci level and where the stock has taken multiple support on daily basis is lying. If the stock manages to close below these levels then the stock can drift to the levels of 259 to 260 where the stock has formed a bottom in the month of December-2016.

Resistance for the stock lies in the zone of 276 to 278 where Fibonacci level and medium term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 286 to 288 where Fibonacci level and 200 Daily SMA is lying.

Broad range for the stock is seen between 264 to 266 on downside & 280 to 282 on upside.