EquityPandit’s Outlook for Hindustan Unilever for the week (September 21, 2015 – September 25, 2015):

HINDUSTAN UNILEVER:

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

As we have mentioned last week that resistance for the stock lies in the zone of 810 to 820 where trend-line resistance are positioned. 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. The stock manages to hit a high of 816 on 18/09/2015 but could not sustain above it and close the week around the levels of 797.

The stock has formed a Bullish Harami pattern on weekly charts indicating the exhaustion in selling pressure.

Support for the stock lies in the range of 775. 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.

Resistance for the stock lies in the zone of 810 to 820 where trend-line resistance are positioned. 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.

Broad range for the stock in coming week is seen between 760 to 770 on downside and 830 to 840 on upside.