EquityPandit’s Outlook for Hindustan Unilever for the week (February 13, 2017 – February 17, 2017) :

HINDUSTAN UNILEVER:

HIND Unilever closed the week on positive note gaining around 0.10%.

As we have mentioned last week that resistance for the stock lies in the zone of 865 to 870 where 200 Daily SMA and Fibonacci level is lying. If the stock manages to close above these levels then the stock can move to the levels of 890 to 900 where the stock has formed a high in the month of October-2016 and Fibonacci level is lying. During the week the stock manages to hit a high of 863 and close the week around the levels of 851.

Support for the stock lies in the zone of 840 to 845 from where the stock broke out and medium term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 830 to 835 where Fibonacci level and short term moving averages are lying.

Resistance for the stock lies in the zone of 865 to 870 where 200 Daily SMA and Fibonacci level is lying. If the stock manages to close above these levels then the stock can move to the levels of 890 to 900 where the stock has formed a high in the month of October-2016 and Fibonacci level is lying.

Broad range for the stock in coming week is seen between 810 to 820 on downside and 870 to 880 on upside.