HUL is nearing its support zone of 2370. If it crosses below 2370, expect a fall to 2143 levels. Resistance levels are clearly shown in the Fibonacci extensions.
Hul is near its major support zone 2180 even with nifty falling and high crude oil prices the stocks moved to 2200 from days low of 2170 it's looking very strong
Note: This is for educational purpose only. Please do not trade in F&O based on this analysis.
There seems to be a bullish engulfing at support and seems to be a bullish reversal. Moreover, there seems to be a RSI divergence as well.
The relative strength compared to Nifty seems to be weak though which is a negative point.
SL: 2250 INR
Hindustan Unilever Buy above 2207
TARGETS: 2219, 2232, 2259, 2273, 2280
SL 2150
Posting for Educational purpose only
Closing Basis means stock need to trade above 2207 between 3:20 ~ 3.30 PM
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HUL is set to breal out the trend line with strong bullish candle on daily time frame. would be a buy above the line if sustain.
Note : - All charts are educational purposes only. Please do your analysis before go into trade.
Stock has broken out of a 2 YEAR consolidation phase (range) with great momentum.
Looks like its read for a pullback/retest of previous resistance/new support.
This new support matches with the 61.8 retracement level, which is also where generally reversal happens.
Lets see how it turns out to be. If the stock makes a new high: go long, and cover short if you short now.
