Timeframe: Daily
NSE HINDUNILVR has formed a corrective formation for more than 14 months on the daily timeframe chart. The price is trading below the 200 and 50 exponential moving averages. RSI of the price is 40.
The given structure has formed a value area in which there are a total of six excess on the upper and lower bands. The control line of the channel has nine touches on the control line. Also, note that the control line is the center point of volume activities. If the price sustains above the upper band of thevalue area, traders can trade for the following targets: 2550 – 2590 – 2645+.
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