Hindustan Unilever Outlook for the Week (Oct 12,2020 – Oct 16,2020)

Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit anticipates variety for the Weekly as 2214 on advantage and 2044 on drawback.

SUPPORT 2.
2044

Weekly High: 2166.95.

Weekly Range: 84.75 points.

If stock breaches small assistance on the drawback and closes below it we might see fresh break down and stock can drag towards Major Support on lower side @ 2044 and If stock breaches small resistance on the upside and closes above it we might see fresh breakout and stock can head towards Major Resistances Level @ 2214.

SECTOR: FMCG.

Technically on the everyday charts EquityPandits Analyst see: Minor support on the disadvantage lies at 2092 Levels, Minor resistance on the benefit is topped around 2177 levels.

On the day-to-day charts, stock currently reached its double bottom target as mentioned previously in last report. We can see a sharp rally bounce off from 1.618% of Fibonacci retracement. Further it is crucial to see whether cost reverse or break above from the same.

Weekly Support & & Resistance for HUL:.

NSE: HINDUNILVR

HUL closed the Week on favorable note gaining 2.13%.

SUPPORT 1.
2092.

On the daily charts, stock currently reached its double bottom target as stated previously in last report. We can see a sharp rally bounce off from 1.618% of Fibonacci retracement. Even more it is essential to see whether cost reverse or break above from the same.

RESISTANCE 2.
2214.

Weekly Low: 2082.20.

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For the Week: (Oct 12,2020– Oct 16,2020).

RESISTANCE 1.
2177.

HUL Share Price: 2139.65 (NSE).