EquityPandit’s Outlook for Hindustan Unilever for the week  (Oct 01, 2018 – Oct 05, 2018) : 

HINDUSTAN UNILEVER:

HIND Unilever closed the week on negative note losing around 0.80%.

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 1564 and close the week around the levels of 1608.

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 and September-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 1630 to 1640. Resistance for the stock lies in the zone of 1660 to 1680 where short and medium term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 1700 to 1710 from where the stock broke down after consolidation.

Broad range for the stock in coming week is seen between 1550 to 1570 on downside & 1650 to 1670 on upside.