EquityPandit’s Outlook for Hindustan Unilever for the week  (May 15, 2017 – May 19, 2017) :

HINDUSTAN UNILEVER:

HIND Unilever closed the week on positive note gaining around 2.80%.

As we have mentioned last week that 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. During the week the stock manages to hit a low of 946 and close the week around the levels of 980.

Minor support for the stock lies in the zone of 965 to 970. 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 990 to 1000 where Fibonacci level and life time highs for the stock is lying. If the stock manages to close above these levels then the stock can move to the levels of 1010 to 1015 where Fibonacci level is lying.

Broad range for the stock in coming week is seen between 950 to 960 on downside & 1010 to 1020 on upside.