HUL - Bullish Setup

9 lug 2020

HINDUNILVR

The stock is retesting is previous crucial resistance levels and indicating a bullish biased positive setup. The key points supporting my analysis are as follows:
-> The resistance level has been tested multiple times...hence has become weak and leaves a good probabality of upside breakout.
-> After not sustaining at 2200/2300 levels due to outbreak of COVID-19, sellers brought it down but not much, and immediately after a short
correction buyers barged in with massive volumes and dragged it towards a new all time high of 2600, profit booking and retracement has
pulled it down again but not too much and once again it is back on the track - rally carrried on by bulls.
-> A good buyers consolidation (price action confirms it all) can be seen at resistance levels which confirms institutions buying at this level.

My view: Positive for a short term view once it breaks 2200 levels with good volumes
Short term target: 2250
Mid term target: 2300-2400 -2500
Long term target: 2600+

PS: Trade with caution or wait for some more price action.

Diclaimer: Take this view only for educational purpose. Trade on your own risk.
Happy trading!

11 lug 2020

Nota

It has really given a good move.
Hope you all made money.
This is the advantage of plain, simple but powerful analysis.
Keep it simple and practice.
Happy trading1