HUL has formed a Head & Shoulders pattern in the 25 min time frame. So if it gives a breakdown, it can go down at least 60 points.
But bear in mind it is near oversold zones in the RSI. So if it fails to breakdown, a trade can be taken on the long side too.
If short ---Downside target: 2070.
If long ---Upside target: 50 points.
SL : The blue line.
(PS: I'm more...
Rain Industries was struggling near 400 levels from past four(4) months.
and forming Spinning Long Range Candles, signalling supply pressure near those levels. Hence some decline was then seen in the stock, forming long bearish Candles.
Stock might correct more , however there are no much sign of weakness on the charts.
Price action should be observed near 300...