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.
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