HINDUNILVR trade ideas
HUL HUL Formed Double Bottom in multi year support
Levels clearly marked in chart.Bullish Mode Lossing let play based on level
Disclaimer/ disclosure
I am Does not provide any tips/recommendations
All updates/posts/discussions are only for education and learning purpose.
Do Consult your financial advisor before taking trades or investment decisions
HINDUSTANUNILIVER HAS GIVEN NO RETURN IN LAST 2.5 YRIt is surprising to see that in a volatile period like past 2.5 years where things changing like crazy . every analyst thinking to protect there portfolio by going into so called defensive sector the FMCG sector.
My advise is that when you come to market do not just believe that this is safe ,this is risky because it just tend be like that.
DOUBLE BOTTOM#HINDUNIL
Perfect Bookish PATTERN . . .DOUBLE BOTTOM
- After the first trough is reached, an advance ranging from 10-20% usually take place.
- 2nd trough has been started and it is higher than the 1st trough's lowest point.
- 2nd trough took 3 weeks to form 2nd trough.
- But to confirm the pattern, volume is required.
- 2114 ~ 2125 with HUGE VOLUMES.
- After BO more up-side can be seen
Negatives:
- Main reason of falling the stock price is High Debt on Company. (D/E : 1.56)
- Company may take 2-3 Qtr. To overcome from this huge Debt.
Hinduniliver seems bottoming, relief rally may start soon!HUL is falling from the levels of 2800 almost non stop. The stock has given up close to 30% of its entire value, which is significant for such a quality large cap. It seems the correction may be coming to an end, and the stock should see at least a relief rally in the coming weeks. As long as 1850-1900 kind of levels are intact, it should gradually move towards 2300. This is a positional call and should be traded only in cash with proper position sizing and risk management. Once a reversal is confirmed and the stock picks momentum one can look to use derivative instruments to cash out some leveraged gains. If it starts trading below 1800 we may consider an exit.
HINDUNILVR INTRADAY BULLISH TRADE Trade Setup for 28 March 22
Bullish Divergence Formed on 15mins.
One can go long if gets the opportunity at 09.30am at 1952-1955.
Strict SL 1945 on 15 mins time frame to be kept.
Further SL should be trailed.
Resistance 1 1972
Resistance 2 1990
Expecting some Short Covering here.
Note: If Stock Closes above 2008 on Day Closing we may see Trend Reversal in Stock.