The move up from 1628 level looks like a corrective W-X-Y correction which suggests that we are seeing an upmove for the retest of the yellow trendline, after the retest if we see a reversal near the same then that would be an ideal shorting opportunity which can take this market down to the levels of 1600 or lower, more precise targets can be predicted once the...
Hindustan Unilever has been trading in down trend and trading in bearish channel respecting support and resistance. it closed last week touching channel resistance and it seems to reverse towards channel support up to 792.00, traders may go short in Hindustan Unilever and enter at CMP with small stop loss if breakout occurs upside but chances are thin to go upward.
In the hourly chart presented here, price is clearly making a series of lower highs and lower lows. The important resistance levels are highlighted via the red lines in the chart.
In the daily time frame, price is stuck in a trading range and I would expect a slide to the lower end of the range at 770-ish. Just for the sake of understanding price behavior, watch...
It is been observed that the price action on hourly chart breaks out from the consolidation and now closes below 838 levels of support, indicating further downside move. It has also retraced back to the breakout levels to confirm previous support as resistance, indicating further selling pressure in the price action.
Its seems like a base has been formed in HUL..Double bottom along with a lower low in RSI and a bullish engulfing candlestick pattern..Stoploss 837 targets 858(first major resistance) second target 869(200 DMA) and above that 880..if results good on 26th it can move up above the 200DMA
It is been observed on the daily chart, that the price action breaks out from the crucial support levels of 860 indicating further weakness ahead. It is also observed that the price action also breaks out from a long prevailing uptrending channel indicating a massive selloff. It shall further takes the price action down.
It is been observed that the price action is trending in an upward channel in which the price action is respecting resistance and support levels. For instance, at 560 levels where the support was established, the price action bounces back after touching the support where the buying pressure was seen again. This indicates short term trend change that can take the...