HINDUSTAN UNILIVER has rallied, better to say jumped with the hope of Open offer for buy back of the shares by company at a price of 600 per share. July 4th being the time for open offer. Stock may see some downward momentum as most of the investors are getting ready to offer the shares at 600 per share.
Stock may show some weakness before the Open offer process. Also technically, Stock looks weak as RSI & Stochstic are moving down showing short term bearishness.
Short the stock at CMP or on PULL back for an immediate price target of 575 and in a month for 546 to 490.
SL should be 602 as stock may jump up with the news of Open offer.
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