EquityPandit’s Outlook for Hindustan Unilever for week (July 06, 2015 – July 10, 2015):
Hindustan Unilever (NSE: HINDUNILEVER) closed the week on positive note gaining more than 6%.
As we have suggested last week that the stock has formed a double top formation around the levels of 905. A break above the levels of 905 can take the stock to the levels of 930 where downward sloping trend-line resistance is lying.
The stock hit a high of 929.50 on 03/07/2015.
If the stock manages to close above the levels 932 we may see stock moving towards the levels of 960 to 980 levels.
Support for the stock lies in the range of 880 to 900 where short term moving averages are lying.
Broad range for the stock in coming week is seen between 860 to 880 on downside and 940 to 960 on upside.