EquityPandit’s Outlook for Hindustan Unilever for the week  (May 02, 2017 – May 05, 2017) :

HINDUSTAN UNILEVER:

HIND Unilever closed the week on positive note gaining around 3.10%.

As we have mentioned last week that minor support for the stock lies in the zone of 905 to 910. Support for the stock lies in the zone of 880 to 885 from where the stock broke out of double top pattern and Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 860 to 865 where 200 Daily SMA and breakout levels are lying. During the week the stock manages to hit a low of 899 and close the week around the levels of 935.

Minor support for the stock lies in the zone of 920 to 925. Support for the stock lies in the zone of 900 to 905 where Fibonacci levels and short term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 880 to 885 from where the stock broke out of double top pattern and Fibonacci levels are lying.

Resistance for the stock lies in the zone of 940 to 945 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 980 to 990 where life time highs for the stock is lying.

Broad range for the stock in coming week is seen between 900 to 910 on downside & 960 to 970 on upside.