EquityPandit’s Outlook for Hindustan Unilever for the week (June 06, 2016 – June 10, 2016):

HINDUSTAN UNILEVER:

HIND Unilever closed the week on positive note gaining around 2.80%.

As we have mentioned last week that resistance for the stock lies in the zone of 870 to 875 where short term top for the stock is lying. If the stock manages to close above these levels then the stock can move to the levels of 890 to 900. During the week the stock manages to hit a high of 888 and close the week around the levels of 885.

Minor support for the stock lies in the zone of 860 where short term moving averages are lying. Support for the stock lies in the zone of 840 to 850 where 100 & 200 Daily SMA is lying. If the stock manages to close below these levels then the stock can drift to the levels of 790 to 800 where 500 Daily SMA and medium term bottom for the stock is 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 860 on downside and 920 to 930 on upside.