- Previous week ending 5th April was for HUL. Then a green on 8th April showing indecisiveness against the bears. This was followed by candles confirming a trend reversal this week.
- This reversal happened exactly at the long term trendline as shown.
- Stock moved in for past two months. Finally appearing to breakout from that channel with volumes.
- Currently on the brink of reclaiming 50 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 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.
If it trades above current level which is also the 100DEMA, then stop loss should be the 100DEMA.