Nifty Analysis for coming week 26-30/05/2010 has been updated.
WEEK GONE BY
Nifty cracked sharply on Monday and tested 50 EMA. Rest of the week saw Nifty posting gains which helped to regain lost ground and close the week on positive note. Weekly high was 5331.80, weekly low was 5160.90
WEEK AHEAD
Nifty strong above 5330 areas, weakness only below 5220. Nifty weekly supports 5260-5220-5160, weekly resistances 5380-5440-5500.
Chart of Nifty
HINDUSTAN UNILEVER - Soups to Soaps
Saturday, April 10, 2010
HINDUSTAN UNILEVER - soups to soaps
Interesting to look at Hindustan Unilever long term charts.
LINE CHART [WHITE] = 5 years support trendline has been breached [dotted white].
CANDLE CHART - 6 years support trendline [BLUE] may lend support around 215 zones. March candle does indicate a possibility of short term reversal. Noting the tendency of HUL to bounce sharply from this trendline indicated by the long lower shadows on the monthly candles, covering shorts and adding some contra longs (CMP 221.35-215) looks prudent for targets of 240-250+. Stops for longs could be 209.95 on weekly closing basis. Can short below 209.95 if breached on weekly basis for 190-185-165 zones with stops above 218.10 on weekly closing basis.
Interesting to look at Hindustan Unilever long term charts.
LINE CHART [WHITE] = 5 years support trendline has been breached [dotted white].
CANDLE CHART - 6 years support trendline [BLUE] may lend support around 215 zones. March candle does indicate a possibility of short term reversal. Noting the tendency of HUL to bounce sharply from this trendline indicated by the long lower shadows on the monthly candles, covering shorts and adding some contra longs (CMP 221.35-215) looks prudent for targets of 240-250+. Stops for longs could be 209.95 on weekly closing basis. Can short below 209.95 if breached on weekly basis for 190-185-165 zones with stops above 218.10 on weekly closing basis.
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