HUL just 2% shy of its 52-week high. Should you buy on current trends?

Hindustan Unilever (HUL) shares are trading near their 52-week high but lack momentum due to a strong resistance zone around 2,700-2,720. Until this resistance is broken, the stock is expected to trade sideways. Technical analysts suggest a strong support at the 200-day SMA of Rs 2,550-2,560. Momentum indicators show potential upside, but it is important to note that the stock has trailed the Nifty FMCG index. Several brokerages recommend HUL as a preferred stock in the FMCG space due to low inflation and improved margins.