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sidu2911
Oct 20, 2021 4:42 AM

Hindustan Unilever position after 2021 Q2 result. Long

HINDUSTAN UNILEVERNSE

Description

From my understanding of the charts, Hindustan Unilever has dropping below 50 days moving average and touching 100 days moving average with RSI well within oversold levels indicates the completion of a cycle of profit booking.
Historically, Hindustan Unilever has respected the 100 days moving average line as a firm support level and hasn't faltered more than 7% below it. Good quarterly result of the share coupled with lowered RSI and plateauing straightening PVT means the profit booking Bull run is about to end and another cycle support to trend resistance is about to begin.
Comments
kandaljeet123
Nice analysis 👍
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