EquityPandit’s Outlook for Hindustan Unilever for the week (Dec 10, 2018 – Dec 14, 2018) :
HIND Unilever closed the week on positive note gaining around 4.00%.
As we have mentioned last week, that 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. During the week the commodity manages to hit a high of 1855 and close the week around the levels of 1824.
Minor support for the stock lies around 1800 to 1810. Support for the stock lies in the zone of 1730 to 1750 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 1680 to 1700 where Fibonacci levels and medium term moving averages are lying.
Resistance for the stock lies in the zone of 1850 to 1870 where the stock has formed a short term top. If the stock manages to close above these levels then the stock can move to the levels of 1900 to 1920.
Broad range for the stock in coming week is seen between 1750 to 1780 on downside & 1860 to 1880 on upside.