Mumbai-based consumer goods manufacturer Hindustan Unilever Ltd’s (HUL) shares rose to a record 52-week high of Rs 1,779 at 12:10 PM on the BSE on Monday.
At 12:42 PM, shares of HUL stocks were trading at Rs 1,769.60, up by 1.63 percent or Rs 28.45.
India’s fourth-largest listed company by market capitalisation is set to report a record quarterly profit of Rs 15.3 billion for June quarter on Monday, a 19.3 percent jump on year, according to a Reuters poll of analysts.
HUL stock breaks above a resistance at Rs 1,760.75, the 76.4 percent Fibonacci projection level of the uptrend from December 23, 2016 low to January 30, 2018 high.
As long as Rs 1,760.75 is the support, stock is expected to test the next resistance at Rs 1,823.53, the 86.4 percent projection level.
Trend intensity (TI) indicator rises to 36, suggests a strong uptrend for the stock. MACD is positive and above its signal line.
HUL stock is up 27.4 percent this year as of Friday, compared with 4.64 percent gain in broader the NSE Index.
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