25th April onwards HUL has been moving in a sharp, yet consistent rally. Every few sessions it has formed Marubuzos with decent volumes implying that the stock has nothing to pull it back, atleast not temporarily. Last session, it opened and closed above previous high which is positive for the trend. Heiken Ashi candles suggest continuation. Keep a stop at about...
BUY HUL NEAR 1000, FOR TARGET 1180, FOR HOLDING PERIOD 6-12 MONTHS.
HUL ALWAYS GIVES 200 POINT GAINS AFTER LONG TERM BREAK OUT.
AGAIN HUL GIVEN BREAK OUT ABOVE 980. BUY HUL FOR TARGET 1180. As Touched a new high of Rs 1,022.75, Risen Investor Participation, Delivery Vol of 10.50 lacs on 18 May has risen by 44.45% against 5-day Avg delivery volume.
It is been observed that the price action on hourly chart breaks out from the consolidation and now closes below 838 levels of support, indicating further downside move. It has also retraced back to the breakout levels to confirm previous support as resistance, indicating further selling pressure in the price action.
It is been observed on the daily chart, that the price action breaks out from the crucial support levels of 860 indicating further weakness ahead. It is also observed that the price action also breaks out from a long prevailing uptrending channel indicating a massive selloff. It shall further takes the price action down.
It is been observed that the price action is trending in an upward channel in which the price action is respecting resistance and support levels. For instance, at 560 levels where the support was established, the price action bounces back after touching the support where the buying pressure was seen again. This indicates short term trend change that can take the...