Hindustan Unilever has target of Rs 313: Manghnani

Hindustan Unilever has target of Rs 313, says Anil Manghnani, Modern Shares & Stock Brokers.

Manghnani told CNBC-TV18, "You have to understand like we spoke about it last week the only sector that remains on the monthly charts strong or in a buy is FMCG. So it is not a surprise that on any give day you get one of those stocks sort of helping the market. Lever is an interesting one because if you see it had been stuck in Rs 270-290 range for many-many sessions, maybe even last couple of months. Having broken out of Rs 290 barrier I think it can go up, Rs 305 is the first target and in a bigger move up to Rs 313."
He further added, "NTPC - I am not convinced. We have seen these moves for the last maybe 2 years where it trades in a range. I think maybe back to the 200 day around Rs 190 where it would again find resistance.