April 17, 2018 / 6:16 AM / 9 days ago

BUZZ-India's Hindustan Unilever hits record high; upside seen- technicals

** Hindustan Unilever Ltd rises as much as 1.3 pct to a record high of 1,437.90 rupees

** Stock breaks above a resistance at 1,429.26 rupees, the 23.6 pct Fibonacci projection level of the uptrend from the low of Dec 23, 2016 to the high of Jan 30, 2018 reut.rs/2EPzIJ7

** Stock is in a strong uptrend with the Trend Intensity indicator (TI) showing a reading of 31, MACD is also positive and above its signal line

** Some caution is, however, suggested by the volume as the breakout is on a lower volume, with the 5-day average volume 33 pct lower than the 30-day average

** As long as 1,429.26 rupees is the support, the stock is expected to move towards 1,520.92 rupees, the 38.2 pct projection level

** With a 53.7 pct gain in the last one year as of Monday’s close, stock has outperformed the broader NSE Index’s 15.05 pct gain

Reporting by Gaurav Dogra

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below