Dabur is regarded as one of the most stable FMCG stock. Which means, it has performed well in the past. Since, Jan-15 it has rallied over 20% (222-275 levels). Post run-up, profit taking is being witnessed and the stock price has retraced almost 33% as per fibonacci retracement levels. This level is considered support zone from where the stock is expected to bounce back.
It has formed Pennant formation on weekly chart (as shown in chart). This is a continuation formation indicating that the upside move will resume shortly.
Considering all the above factors, we advise short term traders with 1-2 month horizon to by Dabur in a range 260-270 keeping 255 as close below stop loss for the target of 310.