EquityPandit’s Outlook for Hindustan Unilever for the week  (Apr 02, 2018 – Apr 06, 2018) : 

HINDUSTAN UNILEVER:

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

As we have mentioned last week, that minor resistance for the stock lies in the zone of 1320 to 1330. Resistance for the stock lies in the zone of 1350 to 1360 where short term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 1390 to 1400 where the stock has formed a double top pattern in the month of January-2018. During the week the stock manages to hit a high of 1340 and close the week around the levels of 1333.

Minor support for the stock lies in the zone of 1300 to 1310. Support for the stock lies in the zone of 1265 to 1275 where Fibonacci levels and break out levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 1220 to 1230 where the stock has taken multiple supports in the month of November-2017 & December-2017.

Resistance for the stock lies in the zone of 1340 to 1350 where short term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 1390 to 1400 where the stock has formed a double top pattern in the month of January-2018.

Broad range for the stock in coming week is seen between 1270 to 1280 on downside & 1360 to 1370 on upside.