Price went down even after a gap up today. (as opposed to what was expected)
But the price has respected the previous resistance line and the 20 ema.
In addition, lower lows has formed in chart BUT higher lows has formed in macd - signs of a weaking downtrend.
BUY it if you haven't already
The resistance level is being tested many time in lower time frames and daily chart show flag (and also breakout pennant) which suggest long oppurtunity for long term.
For short term the price may go down from the resistance level and hit the target as I mentioned earlier.
Good test of the resistance level.
ICICIBANK likely to go down from here.
STOPLOSS - Little above the resistance are
TARGET - If the move is slow, wait to run for some sessions but if the move is very quick, beware of sharp reversals
15 min chart makes a nice triangle after a long run.
Volume inside triangle seems to be dried up and breakout of triangle is possible with good volume support.
BUY if the price moves above resistance.
Target - ideally length of flagpole but be cautious as flag is too long
Stoploss - triangle top
Nice growth from quarterly earnings.
Lower time frames show parabola being formed at the resistance zone.
HUL can plummet till 2100 and then go either way.
Short with minimum capital and stop loss is the resistance zone - RR = 75/25 = 3