Lucrative opportunity for long term buyers!

- Previous week ending 5th April was bearish for HUL. Then a green Doji on 8th April showing indecisiveness against the bears. This was followed by bullish candles confirming a trend reversal this week.
- This reversal happened exactly at the long term trendline as shown.
- Stock moved in downward channel for past two months. Finally appearing to breakout from that channel with volumes.
- Currently on the brink of reclaiming 50 DEMA of 1716. I would like to see HUL cross it in the coming trading sessions to go long for the next leg of rally till 2000 levels while reclaiming other longer term moving averages in process.
- Mild bullish RSI divergence was also observed.

Conclusion : Long term trend is positive and still intact. If you are looking for a long term bet, this appears to be a right time to enter this counter.

Let me know what you think of this opportunity.
Comment: With a closing of 1720 today with volumes, the uptrend is confirmed and HUL stands at the 100 DEMA. A long position here should be carried forward with the 50DEMA as the dynamic stop loss.

If it trades above current level which is also the 100DEMA, then stop loss should be the 100DEMA.

Happy investing!


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