EquityPandit’s Outlook for Hindustan Unilever for the week  (Aug 06, 2018 – Aug 10, 2018) : 

HINDUSTAN UNILEVER:

HIND Unilever closed the week on positive note gaining around 6.30%.

As we have mentioned last week, that resistance for the stock lies in the zone of 1680 to 1700 from where the stock broke down. If the stock manages to close above these levels then the stock can move to the levels of 1740 to 1760. During the week the stock manages to hit a high of 1767 and close the week around the levels of 1763.

Minor support for the stock lies around 1710 to 1720. Support for the stock lies in the zone of 1620 to 1640 from where the stock broke out after consolidation and short term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 1540 to 1560 where Fibonacci levels and medium term moving averages are lying.

Resistance for the stock lies in the zone of 1780 to 1800 where the stock has formed a high in the month of July-2018. If the stock manages to close above these levels then the stock can move to the levels of 1850 to 1870.

Broad range for the stock in coming week is seen between 1700 to 1720 on downside & 1800 to 1820 on upside.