Hindustan Unilever Ltd. (HUL)- STOCK ANALYSIS
Hindustan Unilever Ltd. (HUL)- STOCK ANALYSIS
Key Observations:
Current Price: ₹2,838.95
Resistance Level:
The stock has reached a critical level at ₹2,838.95, near previous highs.
There's a projected price move showing a potential 22.90% gain (₹653.35 points), targeting a future price around ₹3,492.
Support Level:
The stock had fallen by 23.34% (-₹665.35 points) from a previous high, indicating a strong support level around ₹2,150-₹2,200.
This support zone was tested in 2023, and the price bounced back from this level.
Potential Move:
The chart signals an upside movement toward ₹3,492 based on the 22.90% projection.
Volume activity indicates some buying momentum (as seen by the positive CVD - Cumulative Volume Delta of 340.136K).
CVD Indicator:
The CVD shows a slight positive volume balance (375.076K buyers vs 340.136K sellers), indicating marginal buying pressure.
Analysis:
Bullish Scenario: The stock has the potential to rise by 22.90% toward ₹3,492 if it sustains current price levels and breaks the resistance.
Bearish Scenario: If the stock faces selling pressure, a pullback to the support zone between ₹2,150-₹2,200 is possible, given the past correction of 23.34%.
Neutral Scenario: The stock is at a key resistance level around ₹2,838.95, and further volume increase would be crucial to confirm the next upward or downward move.
Conclusion:
The current momentum suggests a bullish setup with the possibility of a breakout towards ₹3,492 (a 22.90% gain).
However, caution should be taken near the current resistance level, as a failure to break out could lead to a retest of the ₹2,150-₹2,200 support zone.
Watch for price action and volume activity to get better confirmation of the next movement direction.
Key Observations:
Current Price: ₹2,838.95
Resistance Level:
The stock has reached a critical level at ₹2,838.95, near previous highs.
There's a projected price move showing a potential 22.90% gain (₹653.35 points), targeting a future price around ₹3,492.
Support Level:
The stock had fallen by 23.34% (-₹665.35 points) from a previous high, indicating a strong support level around ₹2,150-₹2,200.
This support zone was tested in 2023, and the price bounced back from this level.
Potential Move:
The chart signals an upside movement toward ₹3,492 based on the 22.90% projection.
Volume activity indicates some buying momentum (as seen by the positive CVD - Cumulative Volume Delta of 340.136K).
CVD Indicator:
The CVD shows a slight positive volume balance (375.076K buyers vs 340.136K sellers), indicating marginal buying pressure.
Analysis:
Bullish Scenario: The stock has the potential to rise by 22.90% toward ₹3,492 if it sustains current price levels and breaks the resistance.
Bearish Scenario: If the stock faces selling pressure, a pullback to the support zone between ₹2,150-₹2,200 is possible, given the past correction of 23.34%.
Neutral Scenario: The stock is at a key resistance level around ₹2,838.95, and further volume increase would be crucial to confirm the next upward or downward move.
Conclusion:
The current momentum suggests a bullish setup with the possibility of a breakout towards ₹3,492 (a 22.90% gain).
However, caution should be taken near the current resistance level, as a failure to break out could lead to a retest of the ₹2,150-₹2,200 support zone.
Watch for price action and volume activity to get better confirmation of the next movement direction.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.