Hindustan Unilever Limited has broken the ceiling of the falling trend in the medium long term, which indicates a slower initial falling rate. The price has broken the resistance at 2714 of a rectangle pattern, which signals a further rise. It also gave positive signal from the inverse head and shoulders formation at the break up through the resistance at 2546. Further rise to 2767 or more is signaled.
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The
stock has broken up through resistance at
rupee 2700. This predicts a further rise.
Positive volume balance shows that volume is
higher on days with rising prices than days
with falling prices. This indicates increasing
optimism among investors. RSI diverges
negatively against the price, which indicates
danger of a reaction downwards. The stock is
overall assessed as technically positive for
the medium long term.
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