This stock is trading in a range bound from long time...
facing resistance on top at 2720 levels, and finding support at 2440 levels multiple times.
on bottom side at 2300, we have great demand zone.
look for buy when price comes to these levels.
A drop base drop, may be possible in this stock...wait until price breaks the trendline and wait for retest then look...
HINDUNILVR - Elliott Wave Count
HINDUNILVR - the market seems to be forming a triangle pattern...
Please exercise caution when trading as this information is for educational purposes only.
plan your trade accordingly.
NSE:HINDUNILVR NSE:HINDUNILVR1! BSE:HINDUNILVR
This stock has consistently found support around the 2500 level on multiple occasions. Currently, it appears poised for an upward move.
If it opens lower, the likelihood of a continued downward trend is relatively low. Even if the price were to break below the support, it may not be a signal to initiate a short position. The probability of an upward move remains...
The stock is trending upwards...
facing resistance in the zone 2740-2760.
price broken the resistance but not able to sustain again falls in the range below 2740.
if we see on bottom side..price has taken the support from the trendline multiple times..
if price breaks this trendline, we have a support @2580-2600 range...
so in order to be on sell side price has to...
Observations::
--- the stock is facing resistance in the zone 2720-2740,
if price breaks the 2640 zone and gives retest to 2680 or 2660 will go for selling up to 2580 level.
Keep on buy side from 2580 level, to 2660 level.
Note::
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Observations::
------->> Previous Resistance is clearly acting as a support.
------->> Price broken the trendline,now it it is resistance.
------->>We will check if it again comes back to 2580 and goes again or continue to move upside.
if it will again come back to these levels will go for buying to 2740 and 2720 levels.
Strong resistance is placed @2740 and 2720...
The stock price is observed to be bullish from 2440-2460 level, Observe reaction at this level in lower time frames like in 15 min and enter long.
previously leaving an demand zone, price gain came back to the same level,
enter here for long for target of untested supply zone at 2680-2700.
one can take intraday position at the two line mentioned ,Always make decision at any imp levels so that you can keep minimum stoploss and maximize the gain
Hindunilever
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.
