Target 380-400 in a 6-8 month time farame for HUL: Devang Visaria
The stock is heading for a very strong breakout above this 298-300 levels and one can have targets of closer to 380-400 with a 6-month to 8-month time horizon for HUL.
By ET Bureau |
Devang Visaria, Chief Strategist, devangvisaria.com, in a chat with ET Now talks about HUL.
ET Now: Do you think that HUL can touch its 52-week high of 293 anytime soon?
Devang Visaria: That target is extreme short term target possibly with 2 or 3-day time horizon but on a medium term basis, the stock is looking to breakout from a 10-year consolidation. You had a big consolidation for HUL between 298 levels and 200 levels or 170 levels on the downside over the past so many years. The stock is heading for a very strong breakout above this 298-300 levels and we are looking for targets of closer to 380-400 with a 6-month to 8-month time horizon for HUL. Right now for the short term, 294-295 should be a good trading target for HUL.
ET Now: Do you think that HUL can touch its 52-week high of 293 anytime soon?
Devang Visaria: That target is extreme short term target possibly with 2 or 3-day time horizon but on a medium term basis, the stock is looking to breakout from a 10-year consolidation. You had a big consolidation for HUL between 298 levels and 200 levels or 170 levels on the downside over the past so many years. The stock is heading for a very strong breakout above this 298-300 levels and we are looking for targets of closer to 380-400 with a 6-month to 8-month time horizon for HUL. Right now for the short term, 294-295 should be a good trading target for HUL.
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