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
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.