BUY HINDUNILVR ABOVE 1507 TGT 1524/1535 SL 1487
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Market summary 11 MAY 2018: Among the sectoral indices, metal gained most
at 1.56% followed by oil and gas 1.07%, bankes 1.13% and capital goods 1%. Telecom declined
most at 4.25%, consumer durables 1.19% and realty 0.60%. Asian Paints, Tata
Steel, Yes Bank and HDFC were among the top gainers, whereas Bharti Airtel, Sun
Pharma, Hero MotoCorp and Tata Motors were major losers.
Primary trend of the HINDUNILVR is bullish and is consolidating at the higher level. It is expected to continue the bull run with the crossing of the resistance level of 1507, as the stock is sustaining above its 200 and 50&22 days moving averages.
One may initiate the long position above the level of 1507 for the targets of 1524/1540 and with the strict stop loss of 1485.below 1485 traders can short hindunilvr for target of 1468/1440 with sl of 1510.
DAILY CHART FOR HINDUNILVR
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