Previous Structure Break Kindly Avoid GapUp
15 min Chart Make descending triangle pattern so be careful
Plan B in comment Box
Simple & best techniques for Trading called S&D Zone easy to understand for making Profitable Trade. Believe Price Action, has the potential to change your trading lives.
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HUL building up momentum. Thanks to lockdown opening up, HUL seems to be gearing up for a big target. Strong volumes around 2525 suggest institutional buying. Long HUL above 2525 with Volume and strength for target of 2690 / 2850. A small SL @ 2470. Great RR ratio. Close above 2525 with volume and strength looks high probability for mentioned target.
Price structure and price action both look good on hourly, daily, and weekly timeframe.
Any breakout above the trendline could bring fresh buying in the stock and may take prices towards 2480 - 2500 levels.
The above analysis is done purely on basis of chart patterns and price action.
The analysis is done on 30 min TF hence target can be achieved in intraday or in a couple of days.
Trade logic with, entry strategy, SL and Target is explained in image itself.
Don't chase the price. Always plan your trade & trade your plan
Keep trailing SL accordingly once...
HUL- CMP 2184. 20EMA crossed 50EMA just recently and it gained bullish momentum. MACD crossover done on last trading session it entered positive territory which is positive. RSI also crossed resistance zone and shall go up. Can be taken with SL of 2115 for a target of 2220, 2328, 2388, 2495. General momentum presently in FMCG sector also will be another factor...