EquityPandit’s Outlook for Hindustan Unilever for the week  (May 08, 2017 – May 12, 2017) :

HINDUSTAN UNILEVER:

HIND Unilever closed the week on positive note gaining around 2.00%.

As we have mentioned last week that 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. During the week the stock manages to hit a low of 923 and close the week around the levels of 954.

Support for the stock lies in the zone of 945 to 950 from where the stock broke out from July-2016 and September-2016 highs. If the stock manages to close below these levels then the stock can drift to the levels of 920 to 925 from where the stock broke out after consolidation.

Resistance for the stock lies in the zone of 960 to 965. 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 920 to 930 on downside & 980 to 990 on upside.