Buy Hindustan Unilever on decline: Amit Gupta

Gupta told CNBC-TV18, “Hindustan Unilever (HUL) is in a way to form its own trend because it has been in a consolidation mode for the last 12 years and after that around Rs 350 levels it broken out from this range. So I think this stock is a buy at declines.”

He further added, “Whenever any profit booking comes to Rs 460 levels it is a good buying opportunity. Because when it started moving from Rs 350 to almost Rs 450 levels, it was not a one way move. It has seen some retracement levels and whenever one leg comes it takes a 50% retracement and starts moving, takes the previous high. The same thing we saw when it took support around Rs 435 levels. Our disclosure is we also started buying in the stock around Rs 435 levels and from there it has made a new high. But again around Rs 460 it is a very good level. One can enter again and Rs 478-480 levels, those levels can be retested again. So it is a buy at declines.