Hinduniliver is at multi-support level.
This is the level where it took support multiple times in the past and bounced from it.
Considering the previous price action, chances are that prices might bounce from these levels again.
Hence with a small stop loss, a long trade can be taken in this stock.
I have drawn a downsloping trendline along the previous peaks, the break of which can take stock to 2640 levels in no time.
Current levels: 2468
Support levels: 2457- 2421
Target: 2640
Stop: Below 2400 ( as per risk capacity)
This is the level where it took support multiple times in the past and bounced from it.
Considering the previous price action, chances are that prices might bounce from these levels again.
Hence with a small stop loss, a long trade can be taken in this stock.
I have drawn a downsloping trendline along the previous peaks, the break of which can take stock to 2640 levels in no time.
Current levels: 2468
Support levels: 2457- 2421
Target: 2640
Stop: Below 2400 ( as per risk capacity)