EquityPandit’s Outlook for Hindustan Unilever for the week  (April 17, 2017 – April 21, 2017) :

HINDUSTAN UNILEVER:

HIND Unilever closed the week on absolutely flat note.

As we have mentioned last week that resistance for the stock lies in the zone of 930 to 940 where the stock has formed a top in the month of September-2016 and Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 980 to 990 where life time highs for the stock is lying. During the week the stock manages to hit a high of 930 and close the week around the levels of 924.

Minor support for the stock lies in the zone of 905 to 915. Support for the stock lies in the zone of 880 to 885 from where the stock broke out of double top pattern and Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 860 to 865 where 200 Daily SMA and breakout levels are lying.

Resistance for the stock lies in the zone of 930 to 940 where the stock has formed a top in the month of September-2016 and Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 980 to 990 where life time highs for the stock is lying.

Broad range for the stock in coming week is seen between 890 to 900 on downside & 950 to 960 on upside.