Sukhani not upbeat on HUL

Technical Analyst, Sudarshan Sukhani is not upbeat on Hindustan Unilever, HUL.

Sukhani told CNBC-TV18, "I am not upbeat on Lever. It’s been moving in a range for many years and it is a defensive stock in the sense that if you buy it now it could fall only 5% while others could fall 20%. But it’s not going to give you the gains whenever the market rallies, so for me, Lever is not a trading opportunity and it’s not even an investment opportunity."

He further added, "Inspite of the declines Tata Steel remains in a bull-market. So at some point when we get a sense that maybe this bleeding is stopping, at that point it would be a buying opportunity."