2024-03-12 10:21:26 am | Source: Religare Broking
Stock of the day : Hindustan Unilever Ltd For Target Rs. 68 - Religare Broking
Hindustan Unilever Ltd
* HINDUNLVR has been under performing and declining after failing to witness a breakout from the expanding price pattern.
* It has witnessed a breakdown from the expanding price pattern with noticeable volumes suggests weakness in trend.
* Stock is facing rejection around its short term moving average i.e. 20 DEMA indicates bearish tone to continue.
* We thus recommend creating shorts through the Put option.
Buy Hindustan Unilever Ltd CMP 36.00; Range 35-37; SL 20; Target 68
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