EquityPandit’s Outlook for Hindustan Unilever for the week  (Nov 12, 2018 – Nov 16, 2018) : 

HINDUSTAN UNILEVER:

HIND Unilever closed the week on positive note gaining around 2.10%.

As we have mentioned last week, that 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. During the week the stock manages to hit a high of 1680 and close the week around the levels of 1672.

Minor support for the stock lies around 1640 to 1650. Support for the stock lies in the zone of 1600 to 1610 where Fibonacci levels and short term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 1550 to 1560 where Fibonacci levels and long term moving averages are lying.

Resistance for the stock lies in the zone of 1680 to 1700 from where the stock broke down after consolidation. If the stock manages to close above these levels then the stock can move to the levels of 1730 to 1740.

Broad range for the stock in coming week is seen between 1610 to 1620 on downside & 1720 to 1740 on upside.