Hindustan unilever on retracement for strong bullish on fundamental analysis for HUL is very strong sudden growth in non current assets
on technical analysis
price action for HUL follows the same Pattern of 16 SEP 2019
now chart shows same depth of curve of 20% to 16% to 10%
entry price :-2460
stop loss :- 2375-2400 (some case institutional will buy so it will retrace to 2375 )
target 1 ( swing traders ) :- 2843
target 2 ( 6 months trades):-3171
for investors just watch and enjoy you returns
HINDUNILVR trade ideas
Hindustan Unilever27July21:
Added this defensive stock today to my portfolio. Have not participated in this bullish cycle until now.
Trade setup:
Weekly: 50EMA providing good support for years. Stock is moving in HH - HL formation (wedge formation) or ascending triangle. Respecting the trend line as well (solid pink line at bottom). All these factors to good confluence.
Entry = 2340 INR
Stop loss = below the trendline (solid pink line)
Target = 2600 INR
RR > 3.5
Be patient with the stock!