Hindustan Unilever can head to Rs 320-325: Sharma

Hindustan Unilever can head to Rs 320-325, says Jatinder Sharma, Partner, Equity Strategists.

Sharma told CNBC-TV18, "FMCG and pharma are looking much better than even IT because IT, the whole chart pattern is not looking good because of Infosys. In fact Infosys also is trading just around its strong support levels, weekly support levels about Rs 2,835-2,850 levels but it is not showing any inclination to move higher."
He further added, "TCS might trade in a range but it is not looking good to give you some decent returns even in the short run, so we are left only with the FMCG as well as pharma. In FMCG, Hindustan Unilever looks to be a better chart right now in fact better than ITC because it has held on to most of its gain for past three-four sessions and absorbed all the profit taking above Rs 305-306 levels. So it could head towards Rs 320-325 levels over next five-seven trading sessions."