Hindustan UnileverHello & welcome to this analysis
FMCG sector appears to be doing better then other sectors after a very long time with Hindustan Unilever having a large weightage in the sector
Strength signal -
Since 2008 it has never violated the Quarterly Ichimoku Base line nor the Monthly Ichimoku Cloud. Near these support levels it becomes a very attractive value buy. This time also in 2024 it did the same.
After giving a Cup & Handle breakout in the weekly time frame its seen a pullback since October 2024 along with the rest of the market. In the last 3 weeks its gone sideways whereas we have seen other sectors continue to see sharp selling. Once again highlighting that current level is seeing consistent buying support. The pullback appears to have been completed as it bounced back from its rising trend line.
A daily falling wedge breakout has also witnessed a pullback now. As long as it now holds the rising trendline at 2350 it has good potential for upside suggesting a decent low risk high reward set up from short to medium term.
Upside levels one can look out for above 2400 are at 2700 / 3100 / 3300 / 3600
All the best for your trading and investing
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