EquityPandit’s Outlook for Hindustan Unilever for the week  (Apr 23, 2018 – Apr 27, 2018) : 

HINDUSTAN UNILEVER:

HIND Unilever closed the week on positive note gaining around 4.10%.

As we have mentioned last week, that 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. During the week the stock manages to hit a high of 1472 and close the week around the levels of 1468.

Minor support for the stock lies in the zone of 1440 to 1450. Support for the stock lies in the zone of 1400 to 1410 from where the stock broke out of January-2018 high. If the stock manages to close below these levels then the stock can drift to the levels of 1360 to 1370 where break out levels are lying.

Resistance for the stock lies in the zone of 1450 to 1470. If the stock manages to close above these levels then the stock can move to the levels of 1550 to 1560 where Fibonacci extension level is lying.

Broad range for the stock in coming week is seen between 1400 to 1410 on downside & 1520 to 1530 on upside.