manavtechresearch

HUL is a classic ascending triangle pattern waiting for B/O

NSE:HINDUNILVR   HINDUSTAN UNILEVER
HUL :- This stock has created a classic ascending triangle chart pattern which is a uptrend indicating pattern
Where the base is the resistance level and the upward sloping trendline together creates a ascending triangle
The length (in terms of price) between the starting point of the trending line and the base should be your target
NOTE:- "WARNING" wait for the breakout(b/o)
Target is not achieved in one go there will be a pullback after the breakout of the pattern happens
Usually it happens around 4% of the target from there it might retrace to the base level and then again resume to the target level
TRADE
VIEW:- Wait for the price levels to close above the base line and then enter with a strict stop loss with a initial target of 1320 let the market
retrace to the level of 1290-95 then enter a long positional trade for target of 1400
Triangle breakout followed by retracement to 1290 can reach targets around 1500 to 1550 in short term
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