EquityPandit’s Outlook for Hindustan Unilever for the week (Dec 03, 2018 – Dec 07, 2018) :
HIND Unilever closed the week on positive note gaining around 4.70%.
As we have mentioned last week, that resistance for the stock lies in the zone of 1700 to 1720 from where the stock broke down after consolidation. If the stock manages to close above these levels then the stock can move to the levels of 1740 to 1750. During the week the stock manages to hit a high of 1798 and close the week around the levels of 1754.
Minor support for the stock lies around 1720 to 1730. Support for the stock lies in the zone of 1680 to 1700 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 1640 to 1660 where Fibonacci levels and medium term moving averages are lying.
Resistance for the stock lies in the zone of 1790 to 1810 from where the stock has broken down in the month of September-2018. If the stock manages to close above these levels then the stock can move to the levels of 1850 to 1870.
Broad range for the stock in coming week is seen between 1650 to 1680 on downside & 1830 to 1750 on upside.