EquityPandit’s Outlook for Hindustan Unilever for the week  (May 14, 2018 – May 18, 2018) : 

HINDUSTAN UNILEVER:

HIND Unilever closed the week on positive note gaining around 2.70%.

As we have mentioned last week, that 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. During the week the stock manages to hit a high of 1511 and close the week around the levels of 1504.

Minor support for the stock lies in the zone of 1460 to 1470. 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 1510 to 1520. 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 1450 to 1460 on downside & 1540 to 1550 on upside.