HINDUNILVR trade ideas
Hindustan Unilever from 4 July 2020The stock was moving in sideways channel --> it broke with very much difficulty
It is now showing signs of spring entry ...
Multiple red candle touched the breakout level and now a jump in price is seen ... possibly showed retest of resitance zone ...
Main trade setup can be expected ...
1. Buying ITM CE --> why ITM because if price decrease we don't want to lose to time decay .
2. Selling OTM PE --> this OTM PE can be sell .. price on safe side can be should be below Support Zone (green)
2107-3200 by 18th October ? Weekly graph One of the popular one's with good liquidity , looking good on the lower time frame which i shall upload next.
As for now expecting a touch of the trend line again and range tightening with our friend the 200 day acting as support.
Looking at swing and possible intra day opportunity shall set some alerts for this .
HINDUSTAN UNILEVER LIMITEDHINDUNILVR showcases the onset of the downtrend with the current gap down opening. The stock was in a bullish uptrend followed by a consolidated between a span of two weeks in the 2090-2130 range.
The current level (2085-2090) can be termed as both resistance and support because the price is trying to break above it. If price closes above this level as of today, the stock might again go into consolidation.
If not, the price can fall to the lower support levels:-
SUPPORT LEVEL 1 (2010-2015)
SUPPORT LEVEL 2 (1960-1970)
If the price falls to these levels, accumulation should be carried out.
THANKS
P