EquityPandit’s Outlook for Hindustan Unilever for the week (May 30, 2016 – June 03, 2016):

HINDUSTAN UNILEVER:

HIND Unilever closed the week on positive note gaining around 6.00%.

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 866 and close the week around the levels of 861.

Support 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 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 870 to 875 where short term top for the stock is lying. If the stock manages to close above these levels then the stock can move to the levels of 890 to 900.

Broad range for the stock in coming week is seen between 830 to 840 on downside and 890 to 900 on upside.