EquityPandit’s Outlook for Hindustan Unilever for the week (February 08, 2016 – February 12, 2016):
HIND Unilever closed the week on positive note gaining around 3.30%.
As we have mentioned last week that resistance for the stock lies in the zone of 830 where 50 Daily SMA is positioned. If the stock manages to close above this levels then the stock can move to the levels of 850 where 200 Daily SMA is lying. During the week the stock manages to hit a high of 855 and close the week around the levels of 844.
Support for the stock lies in the zone of 815 to 820 where short term moving averages and 100 Daily SMA is lying. If the stock closes below this levels then the stock can drift to the levels of 800 from where the stock has broken the short term double bottom formation.
Stock has closed around the resistance zone of 850 where 200 Daily SMA is lying. If the stock manages to close above this levels then the stock can move to the levels of 880 where trend-line joining earlier highs is positioned.
Broad range for the stock in coming week is seen between 815 to 820 on downside and 870 to 880 on upside.