Will demonetization affect Hindunilvr(HUL) ?
NSE:HINDUNILVR HINDUSTAN UNILEVER
Due to recent demonetization people may put a check on their consumption's list.
We have nice setups for Bearish BAT pattern(s).
There are 2 X co-ordinates and hence possible 2 'D' points.
Already 838 has acted as a resistance once, need to check the HINDUNILVR's price action on Monday for finding the reversal signal from the Potential reversal zone.
If price go above 848 please ignore both the set ups.
You can set 0.38 as first target and 0.618 as second target from C to D (reversal point).
One can also look for 816 as a target.
Here comes first target at 0.238 retracement.