July 16, 2018 / 6:05 AM / 4 months ago

BUZZ-India's Hindustan Unilever hits record high ahead of quarterly results; further upside seen - technicals

** Hindustan Unilever Ltd’s shares rise as much as 1.5 pct to a record high of 1,768.8 rupees

** India’s fourth-largest listed company by market cap is set to report a record quarterly profit of 15.3 bln rupees for June quarter on Monday, a 19.3 pct jump on year - Thomson Reuters Eikon data

** Stock breaks above a resistance at 1,760.75 rupees, the 76.4 pct Fibonacci projection level of the uptrend from Dec 23, 2016 low to Jan 30, 2018 high reut.rs/2NRPNni

** As long as 1,760.75 rupees is the support, stock is expected to test the next resistance at 1,823.53 rupees, the 86.4 pct projection level

** Trend intensity (TI) indicator rises to 36, suggests a strong uptrend for the stock

** MACD is positive and above its signal line

** Stock up 27.4 pct this year as of Friday, compared with 4.64 pct gain in broader NSE Index (Reporting by Gaurav Dogra)

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