Hindustan Unilever Limited Stock Forecast
Hindustan Unilever Limited stock upgraded to Hold/Accumulate.
(Updated on Apr 30, 2024)
The Hindustan Unilever Limited stock price gained 0.168% on the last trading day (Tuesday, 30th Apr 2024), rising from ₹2,226.95 to ₹2,230.70. During the last trading day the stock fluctuated 0.672% from a day low at ₹2,225.00 to a day high of ₹2,239.95. The price has risen in 6 of the last 10 days and is up by 1.64% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 50 thousand more shares were traded than the day before. In total, 154 thousand shares were bought and sold for approximately ₹343.23 million.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -10.01% during the next 3 months and, with a 90% probability hold a price between ₹1,935.48 and ₹2,052.28 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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HINDUNILVR.BO Signals & Forecast
There are mixed signals in the stock today. The Hindustan Unilever Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹2,239.23 and ₹2,277.07. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 1.64%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Hindustan Unilever Limited stock
Hindustan Unilever Limited finds support from accumulated volume at ₹2,221.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ₹14.95 between high and low, or 0.672%. For the last week the stock has had daily average volatility of 1.24%.
Our recommended stop-loss: ₹2,100.18 (-5.85%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (HINDUNILVR.BO) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Hindustan Unilever Limited to open at ₹2,231.88, and during the day (based on 14 day Average True Range), to move between ₹2,198.22 and ₹2,263.18, which gives a possible trading interval of +/-₹32.48 (+/-1.46%) up or down from last closing price. If Hindustan Unilever Limited takes out the full calculated possible swing range there will be an estimated 2.91% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹2,233.00 (0.10%) than the support at ₹2,221.50 (0.41%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Hindustan Unilever Limited stock A Buy?
Hindustan Unilever Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.287 Hold/Accumulate Upgraded
Predicted Opening Price for Hindustan Unilever Limited of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| ₹2,231.88 ( 0.0530%) | ₹2,230.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HINDUNILVR.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2,246.83 | 0.723 % | |
| R2 | 2,241.12 | 0.467 % | ||
| R1 | 2,237.59 | 0.309 % | ||
| Current price: | 2,230.70 | |||
| Support | S1 | 2,226.17 | -0.203 % | |
| S2 | 2,222.64 | -0.361 % | ||
| S3 | 2,216.93 | -0.617 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2,327.90 | 4.36 % | |
| R2 | 2,256.25 | 1.15 % | ||
| R1 | 2,233.00 | 0.103 % | ||
| Current price | 2,230.70 | |||
| Support | S1 | 2,221.50 | -0.412% | |
| S2 | 2,214.95 | -0.706% | ||
| S3 | 2,194.60 | -1.62% |
HINDUNILVR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 14, 2024 | Jun 14, 2024 | Jul 21, 2024 | ₹24.00 | 1.08% |
| 2 | Nov 02, 2023 | Nov 02, 2023 | Nov 16, 2023 | ₹18.00 | 0.723% |
| 3 | Jun 19, 2023 | Jun 19, 2023 | Jul 26, 2023 | ₹22.00 | 0.85% |
| 4 | Nov 01, 2017 | Nov 01, 2017 | Nov 24, 2017 | ₹8.00 | 0.632% |
| 5 | Jun 22, 2017 | Jun 22, 2017 | Jul 30, 2017 | ₹10.00 | 0.87% |
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