EquityPandit’s Outlook for Hindustan Unilever for week (August 10, 2015 – August 14, 2015):
Hindustan Unilever (NSE: HINDUNILVR) closed the week on negative note losing around 2%.
As seen from the chart the stock has been trading in every tight range of 900 to 915 since last 4 days.
The stock has formed a Bearish pattern on weekly charts. The stock has to sustain above the levels of 925 to negate this pattern.
Support for the stock lies in the range of 870 to 890 where 100 Daily SMA and trend-line support are positioned.
Resistance for the stock lies in the range of 930 to 940.
Broad range for the stock in coming week is seen between 860 to 880 on downside and 930 to 950 on upside.