EquityPandit’s Outlook for Hindustan Unilever for the week (October 03, 2016 – October 07, 2016) :

HINDUSTAN UNILEVER:

HIND Unilever closed the week on negative note losing around 4.70%.

As we have mentioned last week that support for the stock lies in the zone of 895 to 900 where medium term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 865 to 870 where long term moving averages are lying. During the week the stock manages to hit a low of 865 and close the week around the levels of 868.

Support for the stock lies in the zone of 865 to 870 where long term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 850 where trend-line joining lows of January – 2016 and May – 2016 is lying.

Minor resistance for the stock lies in the zone of 880 to 885. Resistance for the stock lies in the zone of 900 from where the stock has broken down after consolidating for 1 month and medium term moving averages are lying.

Broad range for the stock in coming week is seen between 848 to 852 on downside and 890 to 900 on upside.