EquityPandit’s Outlook for Hindustan Unilever for the week (February 01, 2016 – February 05, 2016):

HINDUSTAN UNILEVER:

HIND Unilever closed the week on positive note gaining around 5.90%.

As we have mentioned last week that support for the stock lies in the zone of 770 where 500 Daily SMA, 100 Weekly SMA and the stock has formed a medium term bottom. If the stock closes below this levels then the stock can drift to the levels of 730 where trend-line joining earlier lows is positioned. During the week the stock manages to hit a low of 766 and close the week around the lowest levels.

Support for the stock lies in the zone of 800 from where the stock has broken the short term double bottom formation. If the stock closes below this levels then the stock can drift to the levels of 770 where 500 Daily SMA, 100 Weekly SMA and the stock has formed a medium term bottom.

Resistance for the stock lies in the zone of 830 where 50 Daily SMA is positioned. If the stock manages to close above this levels then the stock can move to the levels of 850 where 200 Daily SMA is lying.

Broad range for the stock in coming week is seen between 780 to 790 on downside and 830 to 840 on upside.