vinayak.mohta5

Hindustan Unilever (A Candidate for a Breakdown or a Reversal ?)

NSE:HINDUNILVR   HINDUSTAN UNILEVER
HUL has been forming a triangle for quiet a while now. The markets have recently been looking weak and HUL currently is at a very crucial zone taking support at multiple support zones as well as on the 200 EMA. Any breakdown from these zones should ideally be followed with a strong price movement. The Risk Reward ratio looks pretty favourable with various EMA consolidating at a zone and there might also be a possibility of seeing a death cross in case the price moves further down.
With Nifty forming a Bearish Engulfing Pattern and the US markets witnessing a sell off, which side will you be looking for ?

Red Line- 200 EMA
Yellow Line- 50EMA
Green Line- 9EMA

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