EquityPandit’s Outlook for Hindustan Unilever for the week (July 04, 2016 – July 08, 2016):

HINDUSTAN UNILEVER:

HIND Unilever closed the week on positive note gaining around 4.50%.

As we have mentioned last week that minor resistance for the stock lies in the zone of 870 to 880. Resistance for the stock lies in the zone of 900 to 910 where the stock has made a medium term top in the month of April – 2016. If the stock manages to close above these levels then the stock can move to the levels of 940 to 950 from where the stock has sold off in the month of August – 2015. During the week the stock manages to hit a high of 905 and close the week around the levels of 898.

Minor support for the stock lies around 860 to 870. Support for the stock lies in the zone of 840 to 850 where medium term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 820 to 830 where 200 & 500 Daily SMA are lying.

Resistance for the stock lies in the zone of 900 to 910 where the stock has made a medium term top in the month of April – 2016. If the stock manages to close above these levels then the stock can move to the levels of 940 to 950 from where the stock has sold off in the month of August – 2015.

Broad range for the stock in coming week is seen between 850 to 855 on downside and 920 to 930 on upside.