EquityPandit’s Outlook for Hindustan Unilever for the week  (Feb 4, 2019 – Feb 8, 2019) : 

HINDUSTAN UNILEVER:

HIND Unilever closed the week on positive note gaining around 2.40%.

As we have mentioned last week, that support for the stock lies in the zone of 1730 to 1750 where Fibonacci levels and medium 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 are lying. During the week the stock manages to hit a low of 1726 and close the week around the levels of 1799.

Minor support for the stock lies around 1770 to 1780. Support for the stock lies in the zone of 1730 to 1750 where Fibonacci levels and medium 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 are lying.

Resistance for the stock lies in the zone of 1800 to 1820 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 1850 to 1870 where the stock has formed a top in the month of December-2018.

Broad range for the stock in coming week is seen between 1750 to 1770 on downside & 1830 to 1850 on upside.