Friday, November 4, 2011

Hindustan Unilever Ltd. Technical Chart | 04-Nov-2011

Here is a technical chart of Hindustan Unilever (HUL) on Ichimoku indicator. The stock is listed on Indian Stock exchange.

Hindustan Unilever Ltd. Technical Chart
Hindustan Unilever Ltd. Technical Chart

The stock have bullish breakout on 24-Oct-2011 at Rs.336.90. From there it started its upward journey making a high of about Rs.393 in just few trading sessions. But if you observe the chart carefully, although the price is rising, the kijun-sen line if flat. That's not good. Whenever the kijun-sen line is flat, it will always attract the price. So, one can expect the correction in this stock now with a target of Rs.356.20. The expected price movement has been drawn on chart with blue pencil. Watch this level carefully.

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