EquityPandit’s Outlook for Hindustan Unilever for the week (November 16, 2015 – November 20, 2015):

HINDUSTAN UNILEVER:

HIND Unilever closed the week on absolutely flat note.

As we have mentioned last week that resistance for the stock lies in the zone of 800 to 810 where trend-line resistance for the stock is lying. If the stock manages to close above the levels of 810 then the stock can move to the levels of 830 to 850 where 100 Daily SMA is positioned. During the week the stock manages to hit a high of 810 and close the week around the levels of 797.

Support for the stock lies in the zone of 775 to 780 where downward sloping trend-line for the stock is positioned. If the stock breaks below this levels on closing basis then the stock can drift to the levels of 730 to 740 where channel support and 500 Daily SMA are positioned.

Resistance for the stock lies in the zone of 800 to 810 where trend-line resistance for the stock is lying. If the stock manages to close above the levels of 810 the stock can move to the levels of 830 to 850 where 100 Daily SMA is positioned. The stock has formed a Shooting star pattern on weekly charts in an uptrend indicating the trend reversal. The stock has to close above the levels of 820 to negate this pattern.

Broad range for the stock in coming week is seen between 770 to 780 on downside and 820 to 830 on upside.