Go long with HUL, if price hits 2197
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We can see following indications on the day chart:
1. 55 day exponential moving average is acting as a dynamic resistance.
2. 200 day exponential moving average is acting as a dynamic support.
For further confirmation, we can look at fibonacci extension lines. (2196.55 resistance, 2093.15 support)
Therefore, ladder your buys like this:
1. Buy when price exceeds 55 day EMA.
2. Buy further when price hits 2197.
Take profit at 2281.
Stop loss at 2072.
1. 55 day exponential moving average is acting as a dynamic resistance.
2. 200 day exponential moving average is acting as a dynamic support.
For further confirmation, we can look at fibonacci extension lines. (2196.55 resistance, 2093.15 support)
Therefore, ladder your buys like this:
1. Buy when price exceeds 55 day EMA.
2. Buy further when price hits 2197.
Take profit at 2281.
Stop loss at 2072.
Nota
We are at 2205 now. Price has formed a bullish wedge and we may be witnessing breakout.Ladder your buys at 2205, 2229 and 2262.
Target for 2384.
Stop loss at 2183.
Penafian
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