EquityPandit’s Outlook for Hindustan Unilever for the week (January 23, 2017 – January 27, 2017) :

HINDUSTAN UNILEVER:

HIND Unilever closed the week on positive note gaining around 3.90%.

As we have mentioned last week that 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. During the week the stock manages to hit a low of 822 and close the week around the levels of 860.

Support for the stock lies in the zone of 845 to 850 from where the stock broke out. 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 868 to 878 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 830 to 840 on downside and 890 to 900 on upside.