The stock has been steadily in the rising trend with recently taking support near 140 levels and is indicating a momentum pickup to reverse the trend. Technically, the stock is well placed and we anticipate further upside move from here on to expect a target of 168-175 levels. The RSI also has indicated a trend reversal, signaling a buy making the bias positive. We suggest to buy and accumulate this stock for an upside target of Rs 168-175, keeping the stop loss of Rs 135.
BUY HIND UNILEVER | CMP: Rs 2,409 | TARGET: Rs 2,600-2,650 | STOP LOSS: Rs 2,320
The stock has made a "higher bottom" formation pattern on the daily chart to indicate a positive trend reversal. We anticipate for further upmove as the RSI is also showing a turnaround with positive bias maintained. We suggest to buy and accumulate the stock for an upside target of Rs 2,600, keeping the stop loss of Rs 2,320.
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Disclaimer: The author is a technical analyst with Prabhudas Lilladher. She may have positions in one or more stocks mentioned above. Views are personal.
 "The stock of HUL indicates a positive trend reversal on technical charts")