EquityPandit’s Outlook for Hindustan Unilever for the week  (June 18, 2018 – June 22, 2018) : 

HINDUSTAN UNILEVER:

HIND Unilever closed the week on positive note gaining around 1.60%.

As we have mentioned last week, that resistance for the stock lies in the zone of 1620 to 1625 where the stock has formed a top in the month of May-2018. If the stock manages to close above these levels then the stock can move to the levels of 1640 to 1650. During the week the stock manages to hit a high of 1645 and close the week around the levels of 1621.

Minor support for the stock lies in the zone of 1590 to 1600. Support for the stock lies in the zone of 1540 to 1550 where short term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 1510 to 1520 from where the stock broke out of April-2018 highs.

Resistance for the stock lies in the zone of 1640 to 1650. If the stock manages to close above these levels then the stock can move to the levels of 1670 to 1680.

Broad range for the stock in coming week is seen between 1570 to 1580 on downside & 1660 to 1670 on upside.