December 29, 2015
Hind. Unilever (NSE Cash)
SELL
` 881
` 860 - 864
` 820
5-10 sessions
836
813
867
876
Bearish
Source: Falcon (Time - 11:45 IST)
The stock is moving in a broader range from last ten months; wherein, the stock has also formed a
‘Lower Highs Lower Lows’ sequence in the weekly chart.
After the decent up move from ` 769 to ` 875.60 levels, the stock is taking resistance precisely at the
61.80% retracement levels of the mentioned fall, which also coincides with the ‘Trendline’ resistance.
We have also witnessed a formation of a Bearish Harmonic Pattern called ‘Bearish Butterfly’ in the
daily chart, whose potential reversal zone is placed at ` 871 levels.
The ‘RSI’ oscillator has turned southwards and is verge of giving ‘Rising Wedge’ pattern breakdown in
the daily chart, indicating weakness in the counter.
Looking at the above technical evidences, we are expecting a corrective move in the counter. Thus, we
advise traders to sell this stock from current level and on a rise up to ` 864for a target of ` 820 in
coming 5 to 10 trading sessions. The stop loss for this trade set up can be kept at ` 881.
December 29, 2015
Hind. Unilever (NSE Cash)
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