EquityPandit’s Outlook for Hindustan Unilever for the week (August 08, 2016 – August 12, 2016):

HINDUSTAN UNILEVER:

HIND Unilever closed the week on positive note gaining around 0.30%.

As we have mentioned last week that minor resistance for the stock lies in the zone of 925 to 930. Resistance for the stock lies in the zone of 940 to 950 from where the stock has sold off in the month of August – 2015. If the stock manages to close above these levels then the stock can move to the levels of 980 where life time high for the stock is lying. During the week the stock manages to hit a high of 941 and close the week around the levels of 926.

Support for the stock lies in the zone of 880 to 890 where short term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 865 to 870 where medium term moving averages are lying.

Minor resistance for the stock lies in the zone of 925 to 930. Resistance for the stock lies in the zone of 940 to 950 where the stock has made a short term top. If the stock manages to close above these levels then the stock can move to the levels of 980 where life time high for the stock is lying.

Broad range for the stock in coming week is seen between 890 to 900 on downside and 950 to 960 on upside.