Note: This is for educational purpose only. Please do not trade in F&O based on this analysis.
There seems to be a bullish engulfing at support and seems to be a bullish reversal. Moreover, there seems to be a RSI divergence as well.
The relative strength compared to Nifty seems to be weak though which is a negative point.
SL: 2250 INR
On weekly chart, Hindustan Unilever is respecting a price channel from almost 2016.
Now trading @ price CMP 2404 at bottom of channel near support line. Just wait for confirmation of reversal of trade.
Entry can be above 2450
SL will be 2307 (Day closing Basis)
Target 2 - 2840-50
Risk Reward is also Good >2.5
Goodluck with trading
As we can see this stock has completed its harmonic journey and fell from point D .Now we can short sell this stock with minimum and safe target of 2634.
Please maintain stop of point D on candle close basis, if candle is closed with volume above this, then go for fresh long
Hindustan Unilever is currently on a Very Important level . It is retesting both all time high breakout level as well as the trendline . And volume also seems to pickup . I wanted to enter earlier too when breakout happened but that was way too parabolic and risk reward wasnt good so i didnt . i dont fix any target i just like to ride the scrip as long as so a...
CMP - 2378
Stop - 2300 on DCB
T1 - 2500
T2 - Open, Review at 2500
Expected Holding Period - 30 trading days or earlier for T1
Ideas being shared only for educational purpose
Please do your own research or consult your financial advisor before investing
HUL looks good as a short term pick
Expect 2450, 2500 real quick if the triangle is broken on the upside
Stop loss - 2297
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