HUL on daily chart is moving up since last couple of weeks. On its recent uptrend the stock is forming rising triangular pattern. This triangle is an indication that smart traders/investors are selling the stock on every rise or in other words shares are getting transferred from strong hands to weak hands. Rising triangular pattern is therefore a bearish pattern. Stock can be sold at CMP (570 as on 23 oct 12) for target of 550-540.
Stop loss should be kept at 585-590.
