Go long with HUL, if price hits 2197

We can see following indications on the day chart:
1. 55 day exponential moving average is acting as a dynamic resistance.
2. 200 day exponential moving average is acting as a dynamic support.

For further confirmation, we can look at fibonacci extension lines. (2196.55 resistance, 2093.15 support)

Therefore, ladder your buys like this:
1. Buy when price exceeds 55 day EMA.
2. Buy further when price hits 2197.
Take profit at 2281.

Stop loss at 2072.

Kommentera:

We are at 2205 now. Price has formed a bullish wedge and we may be witnessing breakout.
Ladder your buys at 2205, 2229 and 2262.
Target for 2384.
Stop loss at 2183.