Dabur Outlook for the Week (Oct 12,2020 – Oct 16,2020)


For the Week: (Oct 12,2020 – Oct 16,2020)

DABUR

BSE: 500096| NSE: DABUR| ISIN: INE016A01026| SECTOR: FMCG

Dabur Share Price : 519.10 NSE

Dabur closed the Weekly on positive note gaining 1.03%

Weekly High: 535.00

Weekly Low: 510.65

Weekly Range: 24.35 points

Weekly Support & Resistance for DABUR:

RESISTANCE 2 546
RESISTANCE 1 532
SUPPORT 1 507
SUPPORT 2 496

 

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 507 levels, Minor resistance on the upside is capped around 532 levels.

If stock breaches minor support on the downside and closes below it we may see fresh break down and stock can drag towards Major Support on lower side @ 496 and If stock breaches minor resistance on the upside and closes above it we may see fresh breakout and stock can head towards Major Resistances Level @ 546

Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit predicts range for the Weekly as 546 on upside and 496 on downside.

As seen on daily chart stock took breakout from Double Bottom pattern and bounce off exact from 1.618% of Fibonacci retracement.
For the near term 536 level has now become a resistance for stock. To continue with up move, break above prior day high near 536 is required.