EquityPandit’s Outlook for Hindustan Unilever for the week (May 02, 2016 – May 06, 2016):

HINDUSTAN UNILEVER:

HIND Unilever closed the week on negative note losing around 1.80%.

As we have mentioned last week that support for the stock lies in the zone of 870 to 880 where trend-line joining earlier highs is positioned. If the stock manages to close below this levels then the stock can drift to the levels of 840 to 845 where 200 Daily SMA is lying. During the week the stock manages to hit a low of 859 and close the week around the levels of 868.

Support for the stock lies in the zone of 860 to 870 where trend-line joining earlier highs and short term moving averages are positioned. If the stock manages to close below this levels then the stock can drift to the levels of 840 to 845 where 200 Daily SMA is lying.

Minor resistance for the stock lies in the zone of 900. Resistance for the stock lies in the zone of 930 to 940 from where the stock has sold off in the month of July-2016.

Broad range for the stock in coming week is seen between 850 to 855 on downside and 890 to 900 on upside.