Hul
HINDUSTAN UNILEVER FALLING WEDGE ANALYSISAS YOU CAN SEE IT IS RESPECTING FALLING WEDGE PATTERN ONCE LOWER TRENDLINE IS BROKEN ON CLOSING BASIS TARGET FOR SHORT IS 2015 BUT REMEMBER IT MAY KEEP CONSOLIDATING BETWEEN THESE LINES SO NOW LOWER TRENDLINE IS TOUCHED IT MIGHT GO UP TO UPPER LINE GOOD LUCK
NOTE: TRADE AT YOUR OWN RISK
HUL or Hindustan Unilever looks weak - Short with a stop of 2060Hindustan Unilever posted a huge gain on the back of Corp Tax rate cuts, profit booking has set in after an gain of 8-9%.
It is on the verge of breaking a triangle pattern on the downside,
It is way ahead of 20 DMA, RSI and CCI are indicating price corrections on shorter duration charts.
Short positions can be considered on break of 2010, with a immediate target of 1956 and it weakness persists second target of 1921.
Stop loss of 2060 should be followed.
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HUL | Head & Shoulder PatternHead & Shoulder pattern observed in HUL. Candle closing below 1740 has made the pattern valid. Hence, one can take a bearish view with target @ 1635.
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MAKE OR BREAK LEVEL IN HUL- BELOW 1725 ANOTHER 50-90 POINTS FALLToday HUL completed my Target on downside of 1735. I was short from Thursday Morning (14th Feb) in HUL via 1780 PUT bought @ 19. It made high of 48 Today.
Basis of that trade was - Inverse Cup and Handle pattern on hourly chart. Neckline was 1790 and target was 1735. Same completed today.
You can refer to that trade on the telegram channel (link - t.me )
Now, Today HUL bounced from the crucial level of 1735. Its the neckline for the Adam Eve Top Pattern.
IF HUL BREAKS BELOW 1735-1725 ZONE THEN IT CAN FURTHER FALL 50-80 POINTS.
TARGET WILL BE:-
* 1670-75
* 1640-35
* 1600