TECHNICAL REPORT ON HINDUTAN UNILEVER
Tuesday, September 29, 2009 1:31 pmCurrent PRICE – Rs. 263/-
| BSEId :531155Â Â Â Â NSE Id : ISIN Id :INE601F01016 | INDUSTRY- Personal Care |
| Market Cap- 57,682.97 | Book Value- 9.45 |
| EPS (TTM) – 9.63 | Price/Book – 27.99 |
| Face Value – 1.00 | P/E – 27.47 |
| Div(%)-750.00 | Industry P/E – 27.36 |
PRICE INFORMATION
| All Time High   3234.00 | All Time Low     100.50 |
| 52 Week High   306.70 | 52 Week Low     185.10 |
| RECOMMENDATION- ACCUMULATE/ BUY | TARGET – RS. 285, 310 SL 240
TIME FRAME -4 to 6 WEEKS |
DAILY CHART OF HUL
CHART INTERPRETATION & RECOMMENDATIONS-The stock has formed a uptrend trading channel from last one year. As can be seen in the daily price chart, the stock has taken a support at its lower trading band and buyers have started taking long positions around 250 levels. An interesting fact to be mentioned here is that the stock is among leading FMCG Companies, which happens to be a defensive Sector (Negative/low Beta stock). The sharp move in the broader market has already surprised everyone and on the valuations front also the stocks may be no longer cheaper at this point of time. So investors may also like to take a defensive play now in order to hedge any steep fall from these levels, which will infuse good money in to the stock.
Technically speaking accumulation around these levels can be seen. It is forming a Triple Bottom pattern, the resistance for which is at around 285 levels. Also if it manages to close above those levels then it will go all the way to 310-320 levels. At this point of time volumes are picking up, MACD histogram is suggesting an up move. RSI has also given a cross over above 50 confirming a bullish move. We Recommend a Buy/Accumulate around 250-255 with a Stop of 235-240 for Targets of 285 and 310 in 4-6 weeks time.