Hindustan Unilever: Uptrend May Continue

The stock has been an outperformer in the recent weeks. The breakout last week above the major resistance at Rs.326 confirms strong buying interest.

From the attached daily chart, it’s apparent that the magenta lines have been in tune with the price. Any retracement down to the blue trendline at Rs.331, would be a buying opportunity.

The stop-loss for long positions may be placed at Rs.315. Profits in long position may be taken at Rs.356. The major target-cum-resistance is at Rs.390.

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