This is a long term idea for HINDUNILVR. The overall trend for the stock is bullish, hence going long. (Always stay in the direction of the general trend)
The price has been making higher highs and higher lows. Currently it is stuck in a tight consolidation range. I am expecting the price to break above 2280 (high of the current range). Once the range is broken, it will re-test the high point and then continue upward.
Enter the trade after the price has broken 2280 and re-tested it. The stop loss will be @ 2150 (below the low point of the current range).
The price has been making higher highs and higher lows. Currently it is stuck in a tight consolidation range. I am expecting the price to break above 2280 (high of the current range). Once the range is broken, it will re-test the high point and then continue upward.
Enter the trade after the price has broken 2280 and re-tested it. The stop loss will be @ 2150 (below the low point of the current range).