EquityPandit’s Outlook for Hindustan Unilever for the week (October 12, 2015 – October 16, 2015):

HINDUSTAN UNILEVER:

Hindustan Unilever (NSE: HINDUNILVR) closed the week on absolutely flat note.

As we have mentioned last week that the stock has managed to close above the trend-line resistance of 815. If the stock manages to close above the levels of 820 the stock can move to the levels of 860 where upward moving trend-line is positioned and 100 & 200 Daily SMA are positioned. During the week the stock manages to hit a high of 832 and close the week around the levels of 818.

Support for the stock lies in the range of 780 to 800. If the stock breaks below the levels of 775 on closing basis then the stock can drift to the levels of 730 to 740 where channel support and 500 Daily SMA are positioned.

The stock has formed a Doji pattern on weekly charts in an uptrend indicating the indecision amongst the traders about the further direction of the stock.

The stock has managed to close above the trend-line resistance of 810. If the stock manages to close above the levels of 830 the stock can move to the levels of 860 where upward moving trend-line is positioned and 100 & 200 Daily SMA are positioned.

Broad range for the stock in coming week is seen between 780 to 800 on downside and 840 to 860 on upside.