EquityPandit’s Outlook for Hindustan Unilever for the week  (Dec 17, 2018 – Dec 21, 2018) : 

HINDUSTAN UNILEVER:

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

As we have mentioned last week, that resistance for the stock lies in the zone of 1850 to 1870 where the stock has formed a short term top. If the stock manages to close above these levels then the stock can move to the levels of 1900 to 1920. During the week the stock manages to hit a high of 1867 and close the week around the levels of 1861.

Minor support for the stock lies around 1830 to 1840. Support for the stock lies in the zone of 1800 to 1810 from where the stock broke out from high of August-2018. If the stock manages to close below these levels then the stock can drift to the levels of 1730 to 1750 where Fibonacci levels are lying.

Resistance for the stock lies in the zone of 1850 to 1870 where the stock has formed a short term top. If the stock manages to close above these levels then the stock can move to the levels of 1900 to 1920.

Broad range for the stock in coming week is seen between 1800 to 1820 on downside & 1880 to 1900 on upside.