EquityPandit’s Outlook for Hindustan Unilever for the week (April 18, 2016 – April 22, 2016):

HINDUSTAN UNILEVER:

HIND Unilever closed the week on positive note gaining around 2.00%.

As we have mentioned last week that support for the stock lies in the zone of 840 to 845 where 200 Daily SMA is lying. If the stock manages to close below these levels then the stock can drift to the levels of 830 where 100 Daily SMA is lying. During the week the stock manages to hit a low of 845 and close the week around the levels of 898.

Support for the stock lies in the zone of 870 to 880 where trend-line joining earlier highs is positioned. If the stock manages to close below this levels then the stock can drift to the levels of 840 to 845 where 200 Daily SMA is lying.

Resistance for the stock lies in the zone of 930 to 940 from where the stock has sold off in the month of July-2016.

Broad range for the stock in coming week is seen between 865 to 870 on downside and 920 to 930 on upside.