SENSEX NIFTY
Nov 16, 2012, 11.56 AM IST | Source: CNBC-TV18

Buy Hindustan Unilever, says Sukhani

Buy Hindustan Unilever (HUL), says Sudarshan Sukhani of s2analytics.com. It is now ready for a rally for an upmove. That could happen in choppy conditions and certainly it will outperform if the market were to begin moving up.

Buy Hindustan Unilever (HUL), says Sudarshan Sukhani of s2analytics.com. It is now ready for a rally for an upmove. That could happen in choppy conditions and certainly it will outperform if the market were to begin moving up.

Sukhani told CNBC-TV18, "If the market is going to go down then Hindustan Unilever's target of Rs 580 will take some time. I do foresee it doing that but not immediately. The buy is because it was already drifting down. It has come down from Rs 580 to Rs 530 while the market was sideways, choppy. So HUL has given a 10 percent of its value not just gains. That is a lot for an outstanding stock."

He further added, "It does appear that HUL is now ready for a rally for an upmove. That could happen in choppy conditions and certainly it will outperform if the market were to begin moving up. So the trade is watch HUL, any signs of a stability, any signs of a rally, go long."

" Tata Chemicals has been a short sell in our list for a long time. Now it is eventually drifted down to Rs 320-315. I see it go to Rs 300 and even slightly lower. We started selling it or rather advising on the sells when it was Rs 380. Something is going wrong with this blue-chip company but whatever it is, there is more selling here. So today it is a short sell, traders should be watching it."

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