The stock of HUL has given a breakout above the 2200 level with a bullish candle pattern in the daily chart
After the short consolidation phase, the stock has given a breakout above the 2200 level with a bullish candle pattern in the daily chart. This signifies further upward movement with a positive bias in the coming days. The RSI also has indicated a trend reversal to signal a buy and with the chart looking attractive. We suggest to buy and accumulate the stock for an upside target of Rs 2,500 keeping the stop loss of Rs 2,100.
BUY DIVIS LAB | CMP: Rs 2,203 | TARGET: Rs 2,500 | STOP LOSS: Rs 2,080
The stock has witnessed some correction and has showed signs of bottoming out near 2140 levels. This indicated a bounce back with positive bias. The RSI is also showing a trend reversal from the oversold zone to signal a buy. We anticipate further upward move from here on and with the chart looking attractive. We suggest to buy and accumulate this stock for an upside target of Rs 2,500, keeping the stop loss of Rs 2,080.
Disclaimer: The author is analyst at Prabhudas Lilladher. Views are personal.