Not bullish on Hindustan Lever: Devang Visaria

ET Now caught up with Devang Visaria, Chief Strategist, Devangvisaria.com, to find out his outlook on Hindustan Lever and Colgate.

How do Hindustan Lever and Colgate look on the charts?

If Hindustan Lever were to make a move about Rs 241-242, you could have a short-term upside to around Rs 250-255 kind of levels, but till then, I would not be bullish on Hindustan Lever right now.

Colgate is just trading in a sideways consolidation and looks for a range of closer to Rs 720 on the downside and Rs 760 on the upside. There is not much of a trading opportunity right now but Colgate is definitely the better stock of the two in the FMCG pack and has been outperforming Hindustan Lever and ITC for quite some time and is likely to continue doing so.