HUL Seems to be good shorting opportunity

Jul 9, 2023

While hovering in resistance area it gave confirmation by bearish engulfing candle that too after a fake breakout, sellers dominated and pulled the prices down. Also spotted RSI bearish divergence which makes this setup look promising. Looking at charts 2780 seems good SL and target should be around 2570 with 1.67 risk reward ratio which is great, you can trail your SL after reaching target level and can wait for 2nd target i.e 2530 and 2440. It has good support around 2430-2400. Also as earnings are near we should be extra carefull so with small Stop loss you can plan your trade.


All these are for study purposes, guide; to make you understand price action, please take trade as per your own analysis

Jul 23, 2023

Trade closed: target reached

As we can see price has reached our target zone. Made a low of 2592 on Friday (19/07/23). One can trail SL or book profits. Please do follow for more trades. Thank you