HUL may see big breakout above Rs 300: Thacker

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HUL may see big breakout above Rs 300: Thacker

Technical Analyst, Mitesh Thacker of miteshthacker.com is of the view that Hindustan Unilever, HUL may see big breakout if the stock manages to close above Rs 300 mark on weekly and monthly chart.

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Excerpts from Closing Bell on CNBC-TV18 Watch the full show » HUL BSE | NSE 13/02/12 Are Mutual Funds betting on HUL?

Technical Analyst, Mitesh Thacker of miteshthacker.com is of the view that Hindustan Unilever , HUL may see big breakout if the stock manages to close above Rs 300 mark on weekly and monthly chart.

Thacker told CNBC-TV18, "It's surprising that we have seen some good action happening in Dabur and Marico while ITC and Hindustan Unilever failed to give any kind of good upside support to the market. For the HUL, Rs 295-300 has been a strong supply area. I think there will be a big breakout on weekly and monthly charts and if this stock manages to close above Rs 300 mark, which the stock has not been able to do for the last five-six attempts in the last couple of months.

He further added, "ITC has been more surprising. This stock was kind of outperforming the market. I think Rs 240 could be a good level and from there we should see some kind of good bounce back coming in the stock price."