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FMCG

#LETSTALKABOUTMARKETS - HULFMCG Stocks are considered to be the defensive stocks, i.e. they work when others don't. That's what might happen now as all other sectors seemed to have work but HUL hasn't participated much. HUL has consolidated at lower levels and it seems to be consolidating right now as well. Technically also it looks like a good bet. Technical factors are: 1. MOVING AVERAGE - All the ema's are converging at a point and the traded price is above it. This is considered a positive sign as it has no resistance above it now. A stock above it's 20 ema is always considered positive. 2. RSI - RSI is a momentum indicator, which is right now at 53 which means that there is a lot of space for the stock to rally yet. 3. Breakou t- HUL is consolidating in the range of 2070-2120 and a close above 2130 will result in a breakout for the stock. Breakout is when price consolidates in a certain price range and moves above it with good volumes. One can enter around 2080-2100 with a strict stoploss of 2040 and a target of 2200-2250. *I am not sebi registered, trade at your own risk*
NSE:HINDUNILVRLong
by je_sh
1