EquityPandit’s Outlook for Hindustan Unilever for the week (January 11, 2016 – January 15, 2016):
HIND Unilever closed the week on negative note losing around 5.40%.
As we have mentioned last week that stock has closed around the strong resistance zone of 860 where 200 Daily SMA is lying. If the stock closes above the levels of 865 then the stock can move to the levels of 890 to 900 where trend-line joining earlier high is positioned. During the week the stock manages to hit a high of 868 and sold off to close the week around the levels of 810.
Support for the stock lies in the zone of 800 to 810 where trend-line support for the stock is lying. If the stock closes below this levels then the stock can drift to the levels of 770 where the stock has formed a medium term bottom.
Resistance for the stock lies in the zone of 830 where 100 Daily SMA is positioned. If the stock manages to close above this levels then the stock can move to the levels of 860 where 200 Daily SMA is lying.
Broad range for the stock in coming week is seen between 790 to 800 on downside and 830 to 840 on upside.