EquityPandit’s Outlook for Hindustan Unilever for the week (September 14, 2015 – September 18, 2015):
Hindustan Unilever (NSE: HINDUNILVR) closed the week on negative note losing around 4%.
As we have mentioned last week that 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 and the stock hit a low of 777 during the week and manage to close around the levels of 795.
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 740 to 750 on downside and 840 to 860 on upside.