Hindustan Unilever Limited (HINDUNILVR) Stock - Complete Technical Analysis - Sep 16, 2024

Hindustan Unilever Stock Analysis: Support & Resistance Levels for September 2024

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions. Hindustan Unilever Limited (HINDUNILVR) is currently trading at 2,867, just 3.25% below its 52-week high of 2,963.4 and 32% above its 52-week low of 2,172.05.

The technical indicators reflect a strong bullish trend. The RSI indicates that the stock is in the overbought zone, which could suggest a potential pullback or consolidation phase. The Stochastic %K is also in a high range, reinforcing the idea of overbought conditions. However, the MACD remains positive, suggesting sustained bullish momentum, supported by a strong Awesome Oscillator reading.

The Average Directional Index (ADX) is quite high, signaling a strong trend in the market. Despite this, the Bull Bear Power indicates some potential bearish pressure. The Commodity Channel Index (CCI) and Williams Percent Range are both in positive territory, but the former shows the stock is approaching overbought levels.

Support is evident around the recent Exponential and Simple Moving Averages, with the Ichimoku Base Line and Volume Weighted Moving Average aligning to provide additional support. Resistance levels are seen near the recent highs and classic pivot points, suggesting key levels to monitor for potential price resistance or breakouts.

In summary, while Hindustan Unilever is showing strong bullish signals, traders should be cautious of overbought conditions and monitor key support and resistance levels to navigate potential price corrections or breakouts.