HINDUNILVR trade ideas
HUL-CHANNEL SUPPORTHUL is at important channel support.
The white line is the Gann Support, below white line not good.
A reversal may be expected from HUL from the Channel support.
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The chart is based on price action and chart pattern.
This is not a trade advice but for educational purpose.
Regards
HUL bullish after testing trendlineRSI is in highly overbought region ( below covid levels) and looking for bounce from long term trend line around 2330 levels shown in chart.
Stock is fundamentally strong and a monopoly with multiple brands.
Target for next few months
Target 1: 2530
Target 2: 2800
Happy trading
HINDUNILVR, HUL NSE:HINDUNILVR HUL is the best fundamental company,
currently, HUL is available at a discounted price of 2430, but it is a dip in the stock for the investors,
HUL is on an uptrend since the year 2018. one can buy this stock for a short-term target of 2700, and a long-term target of 10000.
HINDUSTAN UNILEVERSometimes it's better not to waste time predicting the market. Rather we must focus on the industry. FMCG is among one of the most evergreen industry that historically we have ever seen. The industrialist in this field had always constantly tried to expand geographically and financially.
The chart of CNX FMCG indicates a bullishness soon or sooner.
And the chart of HINDUSTAN UNILEVER looks the most simple and clear. Hopefully it will perform good by the next 2 months.
Chart & Analysis - Adarsh Dey
HUL reverse trend started.. it will move UP1. Support: HUL have good Support at the current level,
2. Price Decreases - Volume decreases Indicates - its not in Bearish
3. As it is not in Bearish and bottom of the Channel, Reversal would take place.
4. RSI shows "Over Sold"
5. We can see 3 Targets.
i. Recent Swing Resistance Line
ii. Recent Swing High
iii. Channel Top
6. Resistance - Can be below the Channel Bottom.
Multiple Support: Trendline Support + Fib Level +EMAThe stock corrected 20% from ATH and price at key level (weekly time frame):
- EMA 50 : in past stock has reversed multiple time FROM MOVERAGE AVERAGE and currently at same level.
- Fib .0618 : will be key level, if support break then expect a 10-15% further correction.
- Trendline Support : Upward trending stock, in past we have seen the reversal from base support.
The fundamental very good stock and accumulate at every dip.
Thanks