HINDUSTAN UNILEVER is making descending triangle in 30 min time frame.
The descending triangle is a bearish formation.
It is usually forms during a downtrend as a continuation pattern.
There are instances when descending triangles form as reversal patterns at the end of an uptrend, but they are typically continuation patterns.
Most traders look to initiate a...
TWO SUPPORTS WITH RED LINE ARE SHOWN ONCE BROKEN ON CANDLE CLOSING BASIS GO SHORT FINAL TARGET ALSO GIVEN WHICH IS NEAR LONG TERM TRENDLINE IT WILL BE THE BEST PRICE FOR INVESTMENTS ALSO STOCK MIGHT TAKE SUPPORT AT FIRST RED LINE GOOD LUCK
NOTE: TRADE AT YOUR OWN RISK
HINDUNILVR POTENTIAL BULLISH
The information contained in this presentation is solely for educational purposes. Does do not constitute investment advice. I may or I may not take the trade.
The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable for your own...
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.