So the idea is, you can clearly see HINDUNILVR is at strong support zone of 2304 and also touching at 20 period MA and as per history trend whenever HINDUNILVR touches 20 MA it bounces back. HINDUNILVR respect 20 MA a lot (I have marked the instances on chart) but thing is previous instances were monthly candles but today its almost start of month so I think this time it will break 20 MA support and can reach to 2229 area then bounce back from bottom.
Not giving Targets or SL for HINDUNILVR as this stock is just to buy whenever you got chance to get it. HINDUNILVR has Strong Fundamentals.
Note: I'm new to technical analysis , do your own maths. I'm open to new ideas and flaws in my analysis, so please do comment and collaborate.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial adviser before taking any trade.