Dabur stock price on NSE is sideways since 3rd week of June 2010. The price peaked at Rs 112.40 on 20th Sep 2010.
Since then, the price has been falling slowly but steadily.
During the price rise within the sideways, the market faced Fibonacci resistance at 61.8% (near Rs. 106). During its return downwards, it tried to rise back but was resisted again at the same 61.8%. Both these points are visible on the chart with blue circles.
The stock has fallen after this resistance with quite high volume and other technical indicators also turning negative. Moving average (not shown here) is also suggesting the stock price will make a move and the 20 day moving average has crossed the 50 day moving average just a couple of days ago.
This price is almost close to Fibonacci Zero % (Rs 96.50), and may fall further if this level is breached without support.
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