EquityPandit’s Outlook for Hindustan Unilever for the week  (Nov 19, 2018 – Nov 23, 2018) : 

HINDUSTAN UNILEVER:

HIND Unilever closed the week on positive note gaining around 1.00%.

As we have mentioned last week, that 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. During the week the stock manages to hit a high of 1739 and close the week around the levels of 1689.

Support 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 below these levels then the stock can drift to the levels of 1600 to 1620 where Fibonacci levels and short term moving averages are lying.

Resistance for the stock lies in the zone of 1700 to 1720 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 1740 to 1750.

Broad range for the stock in coming week is seen between 1630 to 1650 on downside & 1730 to 1750 on upside.