How to make Profit in Sideways Market: A Strategy for HINDUNILVR
Hindustan Unilever is a well-known FMCG company that has not generated significant returns for investors over the last several years. The stock is currently in a sideways position. However, it is still possible to earn profits even in such market conditions.
In recent months, the stock has seen an upward trend since March 8, 2022, rising from 1927 to 2700+. Currently, the stock is in a consolidation phase, with strong resistance near the 2700 level and important support at 2400.
Using this knowledge, traders can buy on support and book profits on resistance to make a good profit. The stock has recently come near its support, making it an opportune time to create long positions in the range of 2450 to 2436 with a target of 2700.
It is important to note that if the stock falls below the 2400 level, traders should exit and take their stop loss to avoid potential losses. As with any trade, thorough research and analysis should be conducted before making any decisions. This post is not financial advice and should not be considered as such.
In recent months, the stock has seen an upward trend since March 8, 2022, rising from 1927 to 2700+. Currently, the stock is in a consolidation phase, with strong resistance near the 2700 level and important support at 2400.
Using this knowledge, traders can buy on support and book profits on resistance to make a good profit. The stock has recently come near its support, making it an opportune time to create long positions in the range of 2450 to 2436 with a target of 2700.
It is important to note that if the stock falls below the 2400 level, traders should exit and take their stop loss to avoid potential losses. As with any trade, thorough research and analysis should be conducted before making any decisions. This post is not financial advice and should not be considered as such.
Trade closed: target reached:
2450 to 2731 (280 POINT +)
11.5% Return🌿
#Hindustan Unilever- Update
11.5% Return🌿
#Hindustan Unilever- Update