EquityPandit’s Outlook for Hindustan Unilever for the week (January 18, 2016 – January 22, 2016):

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 830 where 100 Daily SMA is positioned. If the stock manages to close above this levels then the stock can move to the levels of 860 where 200 Daily SMA is lying. During the week the stock manages to hit a high of 838 and retraced to close the week around the levels of 804.

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.

Resistance for the stock lies in the zone of 830 where 100 Daily SMA is positioned. If the stock manages to close above this levels then the stock can move to the levels of 860 where 200 Daily SMA is lying.

Broad range for the stock in coming week is seen between 770 to 780 on downside and 830 to 840 on upside.