Hindustan Unilever has seen about 10 months of consolidation followed by a flag breakout. A close above the downward channel flag could mean a possibility of higher levels to come. The target will be the distance between the base and top of the flag pole (approx. Rs. 200).
Support is seen at Rs. 1920.
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SL should now be trailed to 2100.
While supply is being seen around 2145 levels, stock is still making higher highs and higher lows indicating that the uptrend is intact.
There is a possibility of some consolidation. We will have to wait and watch for confirmation.
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Hanging Man candle has been printed. This is indicative of a possible reversal in prices. However, confirmation is awaited.
CMP is 2175. It is very close to the initial target of 2200. Watch out for price action.