EquityPandit’s Outlook for Hindustan Unilever for the week (May 21, 2018 – May 25, 2018) :
HIND Unilever closed the week on positive note gaining around 6.80%.
As we have mentioned last week, that resistance for the stock lies in the zone of 1510 to 1520. If the stock manages to close above these levels then the stock can move to the levels of 1550 to 1560 where Fibonacci extension level is lying. During the week the stock manages to hit a high of 1612 and close the week around the levels of 1606.
Minor support for the stock lies in the zone of 1550 to 1560. Support for the stock lies in the zone of 1510 to 1520 from where the stock broke out of April-2018 highs. If the stock manages to close below these levels then the stock can drift to the levels of 1400 to 1410 from where the stock broke out of January-2018 high.
The stock is trading at life time highs so virtually no resistance is visible. Resistance for the stock lies in the zone of 1640 to 1650.
Broad range for the stock in coming week is seen between 1550 to 1560 on downside & 1650 to 1660 on upside.