EquityPandit’s Outlook for Hindustan Unilever for the week  (July 23, 2018 – July 27, 2018) : 

HINDUSTAN UNILEVER:

HIND Unilever closed the week on negative note losing around 5.00%.

As we have mentioned last week, that support for the stock lies in the zone of 1700 to 1710 where break out levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 1640 to 1660 from where the stock broke out of June-2018 high. During the week the stock manages to hit a low of 1627 and close the week around the levels of 1656.

Support for the stock lies in the zone of 1620 to 1640 from where the stock broke out after consolidation and short term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 1540 to 1560 where Fibonacci levels and medium term moving averages are lying.

Resistance for the stock lies in the zone of 1680 to 1700 from where the stock broke down. If the stock manages to close above these levels then the stock can move to the levels of 1740 to 1760.

Broad range for the stock in coming week is seen between 1600 to 1620 on downside & 1700 to 1720 on upside.