EquityPandit’s Outlook for Hindustan Unilever for the week (December 28, 2015 – January 01, 2016):

HINDUSTAN UNILEVER:

HIND Unilever closed the week on positive note gaining around 1.00%.

As we have mentioned last week that stock has closed around the strong resistance zone of 860 where 200 Daily SMA is lying. If the stock closes above the levels of 865 then the stock can move to the levels of 890 to 900 where trend-line joining earlier high is positioned. During the week the stock manages to hit a high of 870 and close the week around the levels of 865.

Support for the stock lies in the range of 830 where 100 Daily SMA is lying. If the stock closes below this levels then the stock can drift to the levels of 800 to 810 where trend-line support for the stock is lying.

Stock has closed around the strong resistance zone of 860 where 200 Daily SMA is lying. If the stock closes above the levels of 865 then the stock can move to the levels of 890 to 900 where trend-line joining earlier high is positioned.

The stock has formed a Hanging man pattern in an uptrend indicating the trend reversal or consolidation. The stock has to close above the levels of 875 to negate this pattern.

Broad range for the stock in coming week is seen between 830 to 840 on downside and 880 to 890 on upside.