EquityPandit’s Outlook for Hindustan Unilever for the week  (Sep 17, 2018 – Sep 21, 2018) : 

HINDUSTAN UNILEVER:

HIND Unilever closed the week on negative note losing around 0.60%.

As we have mentioned last week, that minor support for the stock lies around 1590 to 1600. Support for the stock lies in the zone of 1540 to 1550 where Fibonacci levels and low for the month of June-2018 is lying. If the stock manages to close below these levels then the stock can drift to the levels of 1500 to 1510 where long term moving averages are lying. During the week the stock manages to hit a low of 1576 and close the week around the levels of 1629.

Minor support for the stock lies around 1590 to 1600. Support for the stock lies in the zone of 1540 to 1550 where Fibonacci levels and low for the month of June-2018 is lying. If the stock manages to close below these levels then the stock can drift to the levels of 1500 to 1510 where long term moving averages are lying.

Minor resistance for the stock lies around 1660 to 1670. Resistance for the stock lies in the zone of 1700 to 1710 from where the stock broke down after consolidation and short term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 1780 to 1800 where the stock has formed a high in the month of July-2018 and August-2018.

Broad range for the stock in coming week is seen between 1550 to 1570 on downside & 1700 to 1720 on upside.