Hindustanunilever
HINDUSTAN UNILEVER 1DAY TIME FRAME ANALYSISHINDUSTAN UNILEVER 1DAY TIME FRAME ANALYSIS
- Growing in a Rising Channel Since 2017
-Strong Support at 2300 & 2100 Levels
-Major Resistance at 2500, if it breaks, can push it to 2700
- Possible Double Bottom Formation if completes can push it to 2250 - 2100
POSSIBLE SCANERIO:
1. It will take support from the current level and continue its journey towards 2500 (Higher Probablity)
2.If it breaks 2300 levels there is a chance it will bounce back from the trendline around
2260 so if it falls one can take entry around 2260 to TGT of 2500
Hindustan Unilever - Channel breakout 🔴DISCLAIMER
***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ******
Aggressive traders enter at the breakout and conservative traders may give entry after retracement (Retracement is optional, we cannot expect every stock to take a retest after the breakout, it may also continue to have its bullish pressure after the breakout)
After reaching our targets, trail your stop loss to get maximum profit from the stock in a single trade
Comments
#HindustanUnilever This is a swing or positional Trade.
you can exit in 2-3 weeks
if your targrt achived you can book some profits
and there is a breakout it would be great trade to hold because it would be on it's all time high.
and nifty is performing well so it could be a great a leading sector in some time.
#Happy_Trading_
Hindustan Unilever good for swingThe analysis behind this trade is simple. Buy on the trend line. Hindustan Unilever has been respecting this trendline for years.
In the current scenario
Price took support from the trendline.
Engulfing pattern at the support and near the trendline.
Volumes are above average.
Zone from 2319 - 2333 has been proven good support previously.
HUL BreakdownHUL has finally broken out of ending diagonal trainagle.
Stock is trading below 20/50 daily EMA. Stock has closed near 100DEMA.
Any bounce in HUL would get sold off with resiatnce near 2430 which concides with 20DEMA too.
On downside stock can touch 2300 levels which is near 200DEMA. Below that Stock can go to 2150 levels which is 100EMA on weekly chart.
PS: just educational chart for learnng.