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


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

HUL

BSE: 500696| NSE: HINDUNILVR| ISIN: INE030A01027| SECTOR: FMCG

HUL Share Price: 2139.65 (NSE)

HUL closed the Week on positive note gaining 2.13%

Weekly High: 2166.95

Weekly Low: 2082.20

Weekly Range: 84.75 points

Weekly Support & Resistance for HUL:

RESISTANCE 2 2214
RESISTANCE 1 2177
SUPPORT 1 2092
SUPPORT 2 2044

 

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 2092 Levels, Minor resistance on the upside is capped around 2177 levels.

If stock breaches minor support on the downside and closes below it we may see fresh break down and stock can drag towards Major Support on lower side @ 2044 and If stock breaches minor resistance on the upside and closes above it we may see fresh breakout and stock can head towards Major Resistances Level @ 2214

Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit predicts range for the Weekly as 2214 on upside and 2044 on downside.

On the daily charts, stock already reached its double bottom target as stated earlier in last report. We can see a sharp rally bounce off from 1.618% of Fibonacci retracement. Further it is important to see whether price reverse or break above from the same.