Hindustan Unilever Ltd - Short Term ( 1Day TF -2 Sept)
1)HUL took a resistance exactly @1.618 level(Fib from 1901 to 2413(previous swing low to high))
2)Took a support on top of parallel channel
Pattern:
parallel channel move
Possible Movement:
option:1
if it closes below the parallel channel we can sell call strike above 2720 with stop loss of recent high
option2:
if it closes below 2534 level of Fib .. we can buy PE with loss of 2580 or until it breaks top of parallel channel and reverse
2)Took a support on top of parallel channel
Pattern:
parallel channel move
Possible Movement:
option:1
if it closes below the parallel channel we can sell call strike above 2720 with stop loss of recent high
option2:
if it closes below 2534 level of Fib .. we can buy PE with loss of 2580 or until it breaks top of parallel channel and reverse
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