EquityPandit’s Outlook for Hindustan Unilever for the week  (Oct 03, 2017 – Oct 06, 2017) :

HINDUSTAN UNILEVER:

HIND Unilever closed the week on negative note losing around 5.20%.

As we have mentioned last week, that minor support for the stock lies in the zone of 1220 to 1230. Support for the stock lies in the zone of 1200 to 1210 from where the stock broke out of double top pattern. If the stock manages to close below these levels then the stock can drift to the levels of 1150 to 1160 where short term moving averages for the stock is lying. During the week the stock manages to hit a low of 1169 and close the week around the levels of 1174.

Support for the stock lies in the zone of 1150 to 1160 where break out levels for the stock is lying. If the stock manages to close below these levels then the stock can drift to the levels of 1120 to 1130 from where the stock broke out of June-2017 highs and medium term moving averages are lying.

Resistance for the stock lies in the zone of 1190 to 1200 where short term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 1220 to 1230 from where the stock has broken down after consolidation.

Broad range for the stock in coming week is seen between 1110 to 1120 on downside & 1230 to 1240 on upside.