HINDUNILVR
HINDUNILVR has been in a continuous downtrend since 28th January since it broke its 50 EMA with huge volumes.
A clear bearish trendline can be seen which was formed over a period of almost one month.
On the 4 hour chart, a clean bullish divergence was formed between 18th to 26th February at a very long term support trendline.
From 1st to 6th March despite the heavy volatility in the market, the price has continuously moved up towards the bearish trendline and its 50 EMA.
So, a possible trend reversal may take place if the stock breaks the bearish trendline and closes strongly above its 50 EMA with good volumes.
Keep an eye on this for coming time as the stock is very strong above 2240 (50 EMA on daily timeframe) levels.
Thanks and Regards,
Bullishly
코멘트:
Big move with huge volumes.
2160 is also exactly at .618 Fibonacci retracement levels
More chances of reversal as the move is supported by large volumes.