EquityPandit’s Outlook for Hindustan Unilever for the week (October 19, 2015 – October 23, 2015):

HINDUSTAN UNILEVER:

HIND Unilever closed the week on negative note losing around 4.0%.

As we have mentioned last week that 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. During the week the stock manages to hit a low of 769 and bounce back to close the week around the levels of 785.

Support for the stock lies in the zone of 770 to 775 where downward sloping trend-line for the stock is positioned. If the stock breaks below this levels on closing basis then the stock can drift to the levels of 730 to 740 where channel support and 500 Daily SMA are positioned.

Resistance for the stock lies in the zone of 800 to 810 where trend-line resistance for the stock is lying. If the stock manages to close above the levels of 810 the stock can move to the levels of 830.

Broad range for the stock in coming week is seen between 760 to 770 on downside and 810 to 820 on upside.