EquityPandit’s Outlook for Hindustan Unilever for the week  (May 07, 2018 – May 11, 2018) : 

HINDUSTAN UNILEVER:

HIND Unilever closed the week on negative note losing around 0.70%.

As we have mentioned last week, that minor support for the stock lies in the zone of 1440 to 1450. Support for the stock lies in the zone of 1400 to 1410 from where the stock broke out of January-2018 high. If the stock manages to close below these levels then the stock can drift to the levels of 1360 to 1370 where break out levels are lying. During the week the stock manages to hit a low of 1442 and close the week around the levels of 1464.

Minor support for the stock lies in the zone of 1440 to 1450. Support for the stock lies in the zone of 1400 to 1410 from where the stock broke out of January-2018 high. If the stock manages to close below these levels then the stock can drift to the levels of 1360 to 1370 where break out levels are lying.

Resistance for the stock lies in the zone of 1470 to 1490. If the stock manages to close above these levels then the stock can move to the levels of 1550 to 1560 where Fibonacci extension level is lying.

Broad range for the stock in coming week is seen between 1420 to 1430 on downside & 1530 to 1540 on upside.