Tech Musings - Review

BSE Healthcare index has broken above previous high and is witnessing a sustained uptrend. On 4^th May 2012 I wrote that “The next chart is of BSE Healthcare Index. Even in falling market, we can see that Healthcare index is making new highs, Defensive investors can accumulate Healthcare stocks.”

From sub 6800 Levels on May 4^th the index have moved above 7600 levels. If we look at the given weekly chart of BSE Health care we can see that we have already reached at the resistance of upper channel. I think Investors should book partial profits at this level while new investors would wait for pull back and get into healthcare stocks.

The next chart is of Hindustan Unilever. I had given the call on HUL on October 2, 2011 when HUL was trading at around 324 INR and reiterated my call on June 6^th when HUL was trading at 440. In a matter of just three months HUL had hit the target of 550 INR up by total 66% in 10 months. I think there is still lot of steam left in HUL and the stock may move upto 600 INR. Investors should book profit at that level.