EquityPandit’s Outlook for Hindustan Unilever for the week (May 09, 2016 – May 13, 2016):

HINDUSTAN UNILEVER:

HIND Unilever closed the week on negative note losing around 1.70%.

As we have mentioned last week that support for the stock lies in the zone of 860 to 870 where trend-line joining earlier highs and short term moving averages are positioned. If the stock manages to close below this levels then the stock can drift to the levels of 840 to 845 where 200 Daily SMA is lying. During the week the stock manages to hit a low of 844 and close the week around the levels of 853.

Support for the stock lies in the zone of 840 to 845 where 200 Daily SMA is lying. If the stock manages to close below these levels then the stock can drift to the levels of 810 to 820 from where the stock has bounced in the month of March – 2016.

Resistance for the stock lies in the zone of 870 to 875 from where the stock has broken down from the short term bottom. If the stock manages to close above these levels then the stock can move to the levels of 900.

Broad range for the stock in coming week is seen between 830 to 835 on downside and 870 to 875 on upside.