EquityPandit’s Outlook for Hindustan Unilever for the week  (April 24, 2017 – April 28, 2017) :

HINDUSTAN UNILEVER:

HIND Unilever closed the week on negative note losing around 1.90%.

As we have mentioned last week that minor support for the stock lies in the zone of 905 to 915. Support for the stock lies in the zone of 880 to 885 from where the stock broke out of double top pattern and Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 860 to 865 where 200 Daily SMA and breakout levels are lying. During the week the stock manages to hit a low of 903 and close the week around the levels of 906.

Minor support for the stock lies in the zone of 905 to 910. Support for the stock lies in the zone of 880 to 885 from where the stock broke out of double top pattern and Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 860 to 865 where 200 Daily SMA and breakout levels are lying.

Minor resistance for the stock lies in the zone of 915 to 920. Resistance for the stock lies in the zone of 930 to 940 where the stock has formed a top in the month of September-2016 and Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 980 to 990 where life time highs for the stock is lying.

Broad range for the stock in coming week is seen between 870 to 880 on downside & 930 to 940 on upside.