HINDUNILVR
On the 4 hrly chart stock price has formed "DOUBLE TOP" pattern and has given breakdown on closing basis
* This breakdown is accompanied with increase in volume which supports bearish sentiments ahead
* The daily and weekly strength indicator RSI and the momentum indicator Stochastic both are in negative territory which supports downside momentum to continue in near term.
* Stock price has given negative crossover from its 20,50 and 100 day SMA which indicates negative bias.
* The above analysis indicate an downside of 1776 - 1747 invalid close above 1834. #Findyourtrade
* This breakdown is accompanied with increase in volume which supports bearish sentiments ahead
* The daily and weekly strength indicator RSI and the momentum indicator Stochastic both are in negative territory which supports downside momentum to continue in near term.
* Stock price has given negative crossover from its 20,50 and 100 day SMA which indicates negative bias.
* The above analysis indicate an downside of 1776 - 1747 invalid close above 1834. #Findyourtrade
Trade closed: stop reached
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