EquityPandit’s Outlook for Hindustan Unilever for the week (January 02, 2017 – January 06, 2017) :

HINDUSTAN UNILEVER:

HIND Unilever closed the week on positive note gaining around 4.70%.

As we have mentioned last week that 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. During the week the stock manages to hit a low of 785 and close the week around the levels of 826.

Minor support for the stock lies in the zone of 800 to 805. 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.

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 800 to 805 on downside and 850 to 855 on upside.