EquityPandit’s Outlook for Hindustan Unilever for the week (January 16, 2017 – January 20, 2017) :

HINDUSTAN UNILEVER:

HIND Unilever closed the week on negative note losing around 0.70%.

As we have mentioned last week that resistance for the stock lies in the zone of 835 to 840 from where the stock has broken down on intraday basis. If the stock manages to close above these levels then the stock can move to the levels of 850 to 855 where trend-line joining lows of January – 2016 and May – 2016 is lying and also 500 Daily SMA is lying. During the week the stock manages to hit a high of 845 and close the week around the levels of 828.

Support for the stock lies in the zone of 810 to 820. Support for the stock lies in the zone of 780 to 785 where the stock has formed a bottom in the month of November-2016. If the stock manages to close below these levels then the stock can drift to the levels of 760 to 765 from where the stock has bounced in the month of January – 2016.

Resistance for the stock lies in the zone of 835 to 840 from where the stock has broken down on intraday basis. If the stock manages to close above these levels then the stock can move to the levels of 850 to 855 where highs of December-2016 and Fibonacci ratio is lying.

Broad range for the stock in coming week is seen between 805 to 810 on downside and 855 to 860 on upside.