TECHNICAL ANALYSIS :
FUNDAMENTAL ANALYSIS :
TP - 2700
SL - 2560
- ASCENDING RECTANGLE BREAKDOWN -
Price has broken down from the ascending rectangle pattern with confirmation
- VOLUME SPIKE -
On 21st july, price has shown huge volume spike with the breakdown indicating strong downward momentum
- 50D SMA BREAKDOWN -
Price has broken out of the 50D sma after consolidating above it for a long time making it a very strong resistance zone
- STRONG SUPPORT-RESISTANCE ZONE BREAKDOWN -
A very strong support-resistance zone level has been broken down by the price which had earlier acted as either strong support level or strong resistance level multiple times
- OVERSOLD RSI -
Cherry on the cake is that rsi is oversold indicating very strong momentum behind the breakdown
FUNDAMENTAL ANALYSIS :
- EARNING MISS -
On the jun'23 quarter HUL has missed its revenue forecast by ~2.5% & profit forecast by ~4% indicating poor performance by the company
- STIFF COMPETITION -
The regional players who had left the market during peak inflation have returned as inflation subsides indicating even higher competition for company
- MUTED DEMAND -
Company has said that the demand in rural areas has not yet picked up and consumers are still preferring unbranded alternatives compared to its Tea brand
TP - 2700
SL - 2560
Trade stängt: målet nått:
Target has almost reached (just 2 points left), hence close bearish positions