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Buy Hindustan Unilever, target Rs 1757

Traders can accumulate the stock in the range of Rs 1620-1630 for target of Rs 1757 with a stop loss below Rs 1569.


On the daily chart, Hindustan Unilever has been consolidating after a correction from its lifetime highs. The daily momentum oscillator, RSI (14) is having a positive divergence which suggests that the price may react positively in the near-term.
In addition, an ‘Alternate Shark Harmonic’ pattern has formed on the daily chart of the HUL which may propel a rally in the stock. Traders can accumulate the stock in the range of Rs 1620-1630 for target of Rs 1757 with a stop loss below Rs 1569.
MORE WILL UPDATE SOON!!
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