EquityPandit’s Outlook for Hindustan Unilever for the week (September 07, 2015 – September 11, 2015):
Hindustan Unilever (NSE: HINDUNILVR) closed the week on negative note losing around 3%.
As we have mentioned last week that the support for the stock lies in the zone of 840 to 860 where 50 Weekly SMA and trend-line support are positioned. If the stock moves below the levels of 840 the stock can drift to the levels of sub 800, the stock hit a low of 815 during the week and closed the week around the levels of 830.
Resistance for the stock lies in the zone of 840 to 860 where 50 Weekly SMA and trend-line resistance are positioned. If the stock manages to close above the levels of 860 the stock can move to the levels of 880 where 100 and 200 Daily SMA are positioned.
If the stock breaks below the levels of 815 the stock can move to the levels of sub 800 where long term trend-line support for the stock is lying.
Broad range for the stock in coming week is seen between 780 to 800 on downside and 860 to 880 on upside.