EquityPandit’s Outlook for Hindustan Unilever for the week  (Apr 16, 2018 – Apr 20, 2018) : 

HINDUSTAN UNILEVER:

HIND Unilever closed the week on positive note gaining around 2.50%.

As we have mentioned last week, that resistance for the stock lies in the zone of 1390 to 1410 where the stock has formed a double top pattern in the month of January-2018. If the stock manages to close above these levels then the stock can move to the levels of 1450 to 1470. During the week the stock manages to hit a high of 1420 and close the week around the levels of 1411.

Minor support for the stock lies in the zone of 1370 to 1380. Support for the stock lies in the zone of 1320 to 1330 where break out levels and short & medium term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 1265 to 1275 where Fibonacci levels and break out levels are lying.

Resistance for the stock lies in the zone of 1400 to 1410 where the stock has formed a double top pattern in the month of January-2018. If the stock manages to close above these levels then the stock can move to the levels of 1450 to 1470.

Broad range for the stock in coming week is seen between 1350 to 1360 on downside & 1450 to 1460 on upside.