Get started
prashant121212

Hindustan Unliever

Short
HINDUSTAN UNILEVER (NSE:HINDUNILVR)  
prashant121212 Updated   
NSE:HINDUNILVR   HINDUSTAN UNILEVER
Trend Analysis Chart Patterns Technical Indicators
5
0
trendanalysis chartpattern indicator
I think HINDUNILVR will fall from 2485 to 2420. As it form a dubble top pattern and already broke the neckline. And the 50 SMA is also downward.
There might be a chance to fall in price..
stop loss 2523.80
first target 2448.25
second target 2409.35
Trade closed: target reached
Comment:
As I discussed earlier about shorting HUL. We have reached our target and booked our profit. There's might be chance that HUL will go down as 50 moving average is in downward direction and acting as a resistance. So it might go down about INR 2360.
But we are not going to trade further in this because the 50 moving average in weekly timeframe is rising.
So it's better to play safe.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.