EquityPandit’s Outlook for Hindustan Unilever for the week (February 20, 2017 – February 24, 2017) :

HINDUSTAN UNILEVER:

HIND Unilever closed the week on negative note losing around 1.20%.

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 268 and close the week around the levels of 841.

Support for the stock lies in the zone of 835 to 840 where short & medium term moving averages and Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 810 to 820 where the stock has formed a bottom in the month of January-2017.

Minor resistance for the stock lies in the zone of 850 to 855. Resistance for the stock lies in the zone of 865 to 875 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 860 to 870 on upside.