EquityPandit’s Outlook for Hindustan Unilever for the week (December 26, 2016 – December 30, 2016) :

HINDUSTAN UNILEVER:

HIND Unilever closed the week on negative note losing around 3.40%.

As we have mentioned last week that support for the stock lies in the zone of 800 to 805 from where the stock has bounced in the month of May – 2016. If the stock manages to close below these levels then the stock can drift to the levels of 760 to 765 from where the stock has bounced in the month of January – 2016. During the week the stock manages to hit a low of 782 and close the week around the levels of 789.

Support for the stock lies in the zone of 780 to 785 where the stock has formed a bottom in the month of November-2016. If the stock manages to close below these levels then the stock can drift to the levels of 760 to 765 from where the stock has bounced in the month of January – 2016.

Minor resistance for the stock lies in the zone of 810 to 815. Resistance for the stock lies in the zone of 830 to 835 from where the stock has broken down on intraday basis. If the stock manages to close above these levels then the stock can move to the levels of 850 to 855 where trend-line joining lows of January – 2016 and May – 2016 is lying and also 500 Daily SMA is lying.

Broad range for the stock in coming week is seen between 760 to 765 on downside and 820 to 830 on upside.