EquityPandit’s Outlook for Hindustan Unilever for the week  (Feb 19, 2018 – Feb 23, 2018) : 

HINDUSTAN UNILEVER:

HIND Unilever closed the week on positive note gaining around 1.40%.

As we have mentioned last week, that minor resistance for the stock lies in the zone of 1350 to 1360. Resistance for the stock lies in the zone of 1390 to 1400 where the stock has formed a double top pattern in the month of January-2018. If the stock manages to close above these levels then the stock can move to the levels of 1430 to 1440. During the week the stock manages to hit a high of 1364 and close the week around the levels of 1352.

Minor support for the stock lies in the zone of 1325 to 1330. Support for the stock lies in the zone of 1300 to 1310 where medium term moving averages and break out levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 1220 to 1230 where the stock has taken multiple supports in the month of November-2017 & December-2017.

Minor resistance for the stock lies in the zone of 1350 to 1360. Resistance for the stock lies in the zone of 1390 to 1400 where the stock has formed a double top pattern in the month of January-2018. If the stock manages to close above these levels then the stock can move to the levels of 1430 to 1440.

Broad range for the stock in coming week is seen between 1280 to 1300 on downside & 1380 to 1400 on upside.