EquityPandit’s Outlook for Hindustan Unilever for the week  (May 22, 2017 – May 26, 2017) :

HINDUSTAN UNILEVER:

HIND Unilever closed the week on positive note gaining around 2.80%.

As we have mentioned last week that resistance for the stock lies in the zone of 990 to 1000 where Fibonacci level and life time highs for the stock is lying. If the stock manages to close above these levels then the stock can move to the levels of 1010 to 1015 where Fibonacci level is lying. During the week the stock manages to hit a high of 1022 and close the week around the levels of 1008.

Minor support for the stock lies in the zone of 990 to 1000. Support for the stock lies in the zone of 970 to 980 where break out levels for the stock is lying. If the stock manages to close below these levels then the stock can drift to the levels of 950 to 960 from where the stock broke out from the long term trend-line resistance.

Resistance for the stock lies in the zone of 1010 to 1015 where Fibonacci level is lying. If the stock manages to close above these levels then the stock can move to the levels of 1030 to 1040.

Broad range for the stock in coming week is seen between 970 to 980 on downside & 1030 to 1040 on upside.