Parag Doctor, Head, Trading Strategies of Keynote Capital's told CNBC-TV18, "Technically Hindustan Unilever (HUL) is looking good. It has made new highs and a lot of people had taken a bearish stance before the offer. Obviously they have covered the short positions. So I would advice to keep a trailing stop around Rs 580 levels. If that were to break then obviously there would be further downside."
"Upsides to Rs 625-650 levels is possible in the immediate-term and then if another open offer comes in the future within the next year or so, it could see much higher levels in the longer-term," he added.
The share touched its 52-week high Rs 605.20 and 52-week low Rs 443.05 on 04 July, 2013 and 07 March, 2013, respectively. Currently, it is trading 0.65 percent below its 52-week high and 37.49 percent above its 52-week low. Market capitalisation stands at Rs 131,727.00 crore.
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