Hindustan Unilever

٩ يوليو ٢٠٢٢

This stock has given good breakout from cup-n-handle chart pattern on hourly and inverted head and shoulder chart pattern on daily, along with good intensity of volume.
As per previous price actions support and resistances areas & depth of cup pattern and also depth of head pattern, all are co-incidentally matching with trend based fib extension target levels up to 2750-2900.
One can go long at current levels or in dips (yes possible)

On the way down 20DMA and RK's stop line can provide good support now, which are pegged near 2278 - 2280 areas.


Inverted head and shoulder chart pattern breakout on daily chart


price action scenario along with Fibonacci extension levels


Breakout with good intensity of Volume


Cup n handle pattern breakout on weekly RSI


cup-n-handle chart pattern breakout on hourly chart


Price support resistance areas and trend based fib extension levels


RSI double breakout on daily chart and now above 60 & 70 levels.


RSI double Breakout on weekly chart and now above 60 levels.


MACD in weekly positive and now above zero line.


MACD in daily chart positive and now above zero line.



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However, If you treat trading like a business, it will pay you like a business.
If you treat like a hobby, hobbies don't pay, they cost you...!

Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.