EquityPandit’s Outlook for Hindustan Unilever for the week (October 17, 2016 – October 21, 2016) :

HINDUSTAN UNILEVER:

HIND Unilever closed the week on negative note losing around 4.00%.

As we have mentioned last week that 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. During the week the stock manages to hit a high of 886 and close the week around the levels of 842.

Minor support for the stock lies in the zone of 826 to 834. Support for the stock lies in the zone of 800 to 805 from where the stock has bounced in the month of May – 2016. If the stock manages to close below these levels then the stock can drift to the levels of 760 to 765 from where the stock has bounced in the month of January – 2016.

The stock has broken down from the major trend-line support. Resistance for the stock lies in the zone of 850 to 855 where trend-line joining lows of January – 2016 and May – 2016 is lying and also 500 Daily SMA is lying. If the stock manages to close above these levels then the stock can move to the levels of 870 to 875 where 200 Daily SMA is lying.

Broad range for the stock in coming week is seen between 800 to 805 on downside and 870 to 875 on upside.