EquityPandit’s Outlook for Hindustan Unilever for the week  (Oct 29, 2018 – Nov 02, 2018) : 

HINDUSTAN UNILEVER:

HIND Unilever closed the week on negative note losing around 1.30%.

As we have mentioned last week, that minor resistance for the stock lies around 1600 to 1610. Resistance for the stock lies in the zone of 1640 to 1660 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 1680 to 1700 from where the stock broke down after consolidation. During the week the stock manages to hit a high of 1592 and close the week around the levels of 1558.

Support for the stock lies in the zone of 1530 to 1540 where Fibonacci levels and long term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 1480 to 1500 where Fibonacci levels are lying.

Minor resistance for the stock lies around 1590 to 1600. Resistance for the stock lies in the zone of 1640 to 1660 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 1680 to 1700 from where the stock broke down after consolidation.

Broad range for the stock in coming week is seen between 1510 to 1530 on downside & 1600 to 1620 on upside.