HUL share price: FMCG stock to give 6% returns in one month, say stock market experts

HUL share price: The FMCG stock is expected to retain its ground as the fundamentals and technicals of the company look promising, says stock market experts. As per the experts, the company has registered robust growth if we look at other sectors and the sluggishness in the market. Since consumption theme is expected to remain strong, HUL stock is expected to outperform some other stocks in the coming month. HUL share price is currently at Rs 1690-level and is expected to show Rs 1800-level in one month's time, say experts.

Speaking on the HUL share price outlook Chandan Taparia, Derivative & Technical Analyst at Motilal Oswal said, "The Q1FY20 results of the company is promising and if we look at the consumption angle, the HUL market is expected to remain intact and that would definitely reflect at its performance at various Indian indices. I suggest stock market investors take a buy position in the counter at CMP but maintain the stop loss at Rs 1650 as it is working as multiple support for the counter." On target that one can keep in mind, Taparia said that one can book profit at around Rs 1770 per stock levels which is expected to show in next one week."

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Prakash Pandey, Head of Research at Fairwealth Securities said, "HUL share price has strong support at Rs 1650 and it is trading in the range of Rs 1650 to Rs 1800. Going by the current market sentiments, I would suggest stock market investors wait for some correction in the counter and take a buy position at around Rs 1670 maintaining the stop loss at Rs 1650. It is expected to show Rs 1800 in one month and if someone can hold it for the next 45 days, the HUL share price may touch Rs 1850 to Rs 1900 levels."