1. Support: HUL have good Support at the current level, 2. Price Decreases - Volume decreases Indicates - its not in Bearish 3. As it is not in Bearish and bottom of the Channel, Reversal would take place. 4. RSI shows "Over Sold" 5. We can see 3 Targets. i. Recent Swing Resistance Line ii. Recent Swing High iii. Channel Top 6. Resistance - Can be below the Channel Bottom.
this is not the good time to invest in HUL wait for rsi to reach 60 , macd (blue line should be above red line ) and then comes the pattern confirmation
SiViCharts
⋅
@Ayush7015, We have not suggested a Channel Breakout where RSI might be around 60-80 depending upon the width of the channel. Generally, In Price Action, we don't need any Indicators like RSI, MACD, we need only Price and Volume. Because RSI too changes if we change the settings from 14 Timeframe .. likewise MACD. In other patterns like Triangle, you are correct, the RSI might be around ~60
So for swing traders, we can enter now, no need to invest the entire amount in a single shot, instead, we can enter again if there is a dip. Hope you agree with this !!
gurulingchavan
⋅
Good analysis will work. ... But..in case of niftydown trend...What we should do ?
drrajeshsahaa
⋅
Thabks for the analysis. I want to ask you , in how many days we can expect to reach tgt1 ?
SiViCharts
⋅
@drrajeshsahaa, we can refer to the previous swings in the channel, it took 21-23 sessions ie.. around 30 days. but we cannot tell the same number will take place, As it depends upon multiple factors.