EquityPandit’s Outlook for Hindustan Unilever for the week  (Oct 23, 2017 – Oct 27, 2017) :

HINDUSTAN UNILEVER:

HIND Unilever closed the week on positive note gaining around 0.70%.

As we have mentioned last week, that resistance for the stock lies in the zone of 1250 to 1260 from where the stock has broken down. If the stock manages to close above these levels then the stock can move to the levels of 1280 to 1290 where life time high for the stock is lying. During the week the stock manages to hit a high of 1289 and close the week around the levels of 1258.

Minor support for the stock lies in the zone of 1230 to 1240. Support for the stock lies in the zone of 1200 to 1210 where short term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 1150 to 1160 where break out levels for the stock is lying.

Resistance for the stock lies in the zone of 1250 to 1260 from where the stock has broken down. If the stock manages to close above these levels then the stock can move to the levels of 1280 to 1290 where the stock has formed a double top pattern.

Broad range for the stock in coming week is seen between 1200 to 1210 on downside & 1280 to 1290 on upside.