EquityPandit’s Outlook for Hindustan Unilever for the week  (Nov 05, 2018 – Nov 09, 2018) : 

HINDUSTAN UNILEVER:

HIND Unilever closed the week on positive note gaining around 5.10%.

As we have mentioned last week, that minor resistance for the stock lies around 1590 to 1600. Resistance for the stock lies in the zone of 1640 to 1660 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 1680 to 1700 from where the stock broke down after consolidation. During the week the stock manages to hit a high of 1648 and close the week around the levels of 1638.

Minor support for the stock lies around 1590 to 1600. Support for the stock lies in the zone of 1550 to 1560 where Fibonacci levels and long term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 1480 to 1500 where Fibonacci levels are lying.

Resistance for the stock lies in the zone of 1640 to 1660 where Fibonacci levels and medium term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 1680 to 1700 from where the stock broke down after consolidation.

Broad range for the stock in coming week is seen between 1550 to 1570 on downside & 1700 to 1720 on upside.