We can see following indications on the day chart:
1. 55 day exponential moving average is acting as a dynamic resistance.
2. 200 day exponential moving average is acting as a dynamic support.
For further confirmation, we can look at fibonacci extension lines. (2196.55 resistance, 2093.15 support)
Therefore, ladder your buys like this:
1. Buy when price exceeds...
HUL has been in an consolidation phase for the past few days. It has filled the GAP created on 1st June and showing strength in an upward move. One can take position above 2100. It could fill the GAP at 4th May.
Cup & Handle pattern forming on Daily Chart of Hindustan Unilever. BUY 2112, SL 2050, Target - 2280
Note: Risky trade enter closing bases.
* I'm learning chart patterns as of now. You can plan your trades accordingly if you know how to trade these patterns.
HLL IS NEAR THE 50% RETRACEMENT LEVEL AT 1800.
THE SCRIP PRICE SHOULD BE ABLE TO CROSS PREVIOUS HIGH AND REACH NEW HIGH AT 2000.
THE DELIVERY HAD INCREASED TO 12 L FROM AN AVG OF 9 L OVER THE LAST WEEK WHEN THE PRICES WERE DECREASING. THE DELIVERY % STANDS AT 55%.
IF IT GOES DOWN TO 1773 ONE MAY ENTER FOR GOOD GAINS AT BARGAIN PRICE.
Follow Chart Instruction.
Do not be Hurry for entry.
Wait for Proper Entry Setup.
Buy/Sell with Best Risk Reward.
Educational Chart Only.
You can Comment and ask the TREND ANALYSIS of any STOCK/SCRIPT/INDEX/FOREX.
I will update the 2nd entry IF it comes.
R:R is good.
HUL IS FOLLOWING AN INVERTED H&S PATTERN WITH NECK LINE AT 1865.
ONCE THIS IS CROSSED, THE MONTHLY CHART INDICATES A TARGET PRICE OF 2150 IN THE COMING WEEKS.
TRADED VOLUME - 19.1 LA AND DEL - 69.4%
BREAK OUT IS EXPECTED ANY TIME.
MAINTAIN STOP LOSS.
Buy Above 1788.00 for Target of 1796.00 .Keep SL at 1786.90
Buy atleast 200 Qty for profit of 1600 INR. Must follow stoploss.
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