EquityPandit’s Outlook for Hindustan Unilever for the week (May 16, 2016 – May 20, 2016):

HINDUSTAN UNILEVER:

HIND Unilever closed the week on negative note losing around 2.50%.

As we have mentioned last week that support for the stock lies in the zone of 840 to 845 where 200 Daily SMA is lying. If the stock manages to close below these levels then the stock can drift to the levels of 810 to 820 from where the stock has bounced in the month of March – 2016. During the week the stock manages to hit a low of 822 and close the week around the levels of 832.

Support for the stock lies in the zone of 810 to 820 from where the stock has bounced in the month of March – 2016. If the stock manages to close below these levels then the stock can drift to the levels of 790 to 800 where 500 Daily SMA and medium term bottom for the stock is lying.

Resistance for the stock lies in the zone of 840 to 850 where short term moving averages, 100 & 200 Daily SMA is lying. If the stock manages to close above these levels then the stock can move to the levels of 870 to 875.

Broad range for the stock in coming week is seen between 800 to 810 on downside and 850 to 860 on upside.