EquityPandit’s Outlook for Hindustan Unilever for the week (May 23, 2016 – May 27, 2016):

HINDUSTAN UNILEVER:

HIND Unilever closed the week on negative note losing around 2.30%.

As we have mentioned last week that 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. During the week the stock manages to hit a high of 850 and close the week around the levels of 812.

Support for the stock lies in the zone of 790 to 800 where 500 Daily SMA and medium term bottom for the stock is lying. If the stock manages to close below these levels then the stock can drift to the levels of 750 to 760 where the stock has formed a bottom in the month of Feb– 2016.

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 770 to 780 on downside and 830 to 840 on upside.