VigneshIyer

Breaking out of the triangle

Long
NSE:HINDUNILVR   HINDUSTAN UNILEVER
Sector analysis is one of the important aspects in trading a good momentum or capturing the right investment. FMCG might see some boost with unlock looming in few states. Thought Tata consumer has moved recently, HUL looks lucrative in terms of the positioning of the stock
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The stock failed to breakout and hence the squeeze continues. Also the stock has taken support around 50% Fib retracement of the previous rally.
In weekly charts if you closely observe friday's closing for the week has created a inverted hammer taking support just above the 50% fib retracement level.
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Also look at the CNX FMCG chart linked to this idea.
Trade active: a good try and sustaining in a very volatile market. Wouldnt call it a b/o just bcos it closed a bit above the triangle since the volume is clearly lacking. should be an interesting week

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