EquityPandit’s Outlook for Hindustan Unilever for the week (July 18, 2016 – July 22, 2016):
HIND Unilever closed the week on positive note gaining around 2.30%.
As we have mentioned last week that resistance for the stock lies in the zone of 940 to 950 from where the stock has sold off in the month of August – 2015. During the week the stock manages to hit a high of 951 and close the week around the levels of 941.
Minor support for the stock lies in the zone of 900 to 910 where the stock has made a medium term top in the month of April – 2016. If the stock manages to close below these levels then the stock can drift to the levels of 875 to 880 where short term moving averages are lying.
Resistance for the stock lies in the zone of 940 to 950 from where the stock has sold off in the month of August – 2015. If the stock manages to close above these levels then the stock can move to the levels of 980 where life time high for the stock is lying.
Broad range for the stock in coming week is seen between 900 to 910 on downside and 980 to 990 on upside.