Hindustan Unliever

I think HINDUNILVR will fall from 2485 to 2420. As it form a dubble top pattern and already broke the neckline. And the 50 SMA is also downward.
There might be a chance to fall in price..
stop loss 2523.80
first target 2448.25
second target 2409.35

Trade fechado: objetivo atingido

Comentário:

As I discussed earlier about shorting HUL. We have reached our target and booked our profit. There's might be chance that HUL will go down as 50 moving average is in downward direction and acting as a resistance. So it might go down about INR 2360.
But we are not going to trade further in this because the 50 moving average in weekly timeframe is rising.
So it's better to play safe.