EquityPandit’s Outlook for Hindustan Unilever for the week (March 06, 2017 – March 10, 2017) :

HINDUSTAN UNILEVER:

HIND Unilever closed the week on positive note gaining around 2.20%.

As we have mentioned last week that minor support for the stock lies in the zone of 848 to 852. 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. During the week the stock manages to hit a low of 854 and close the week around the levels of 877.

Support for the stock lies in the zone 860 to 865 where 200 Daily SMA and breakout levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 850 to 855 where Fibonacci levels are lying.

Resistance for the stock lies in the zone of 890 to 900 where the stock has formed a high in the month of October-2016 and Fibonacci level is lying. If the stock manages to close above these levels then the stock can move to the levels of 930 to 940 where the stock has formed a top in the month of September-2016 and Fibonacci levels are lying.

Broad range for the stock in coming week is seen between 855 to 860 on downside & 900 to 910 on upside.