EquityPandit’s Outlook for Hindustan Unilever for the week  (Jan 07, 2019 – Jan 11, 2019) : 

HINDUSTAN UNILEVER:

HIND Unilever closed the week on negative note losing around 2.20%.

As we have mentioned last week, that minor resistance for the stock lies around 1830 to 1840. Resistance for the stock lies in the zone of 1850 to 1870 where the stock has formed a short term top. If the stock manages to close above these levels then the stock can move to the levels of 1900 to 1920. During the week the stock manages to hit a high of 1837 and close the week around the levels of 1782.

Support for the stock lies in the zone of 1730 to 1750 where Fibonacci levels 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 1680 to 1700 where Fibonacci levels and medium term moving averages are lying.

Minor resistance for the stock lies around 1800 to 1820. Resistance for the stock lies in the zone of 1850 to 1870 where the stock has formed a short term top. If the stock manages to close above these levels then the stock can move to the levels of 1900 to 1920.

Broad range for the stock in coming week is seen between 1730 to 1750 on downside & 1820 to 1840 on upside.