Business Daily from THE HINDU group of publications
Tuesday, Mar 25, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Tuesday, Mar 25, 2008 ePaper | Mobile/PDA Version |
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Stocks Markets - Recommendation
We recommend a buy in the Hindustan Unilever stock from a short-term perspective. It is evident from the charts of Hindustan Unilever that the stock has been on a medium-term uptrend since its January 2008 low of Rs 170 (52-week low). During this uptrend, the stock breached its 50 and 200-day moving average and is trading well above these moving averages now. On March 24, the stock gained 4 per cent, adding strength to the uptrend. With this gain, the daily momentum indicator has entered the bullish zone from the neutral region. Moreover, the weekly momentum indicator has also entered the bullish region. The daily and weekly moving average convergence-divergence are also featuring in the positive territory. Considering that the medium-term uptrend is intact, we are bullish on the stock and we expect it to move up to our target price level of Rs 260 in the short-term. Investors can buy the stock while keeping the stop-loss at Rs 219. Yoganand D.More Stories on : Stocks | Recommendation | Hindustan Unilever Ltd | Personal Products
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