HINDUNILVR
This line is acting as a trendline and gives major support to the stock.
Arrow marks in this chart indicate whenever the stock price has come closer to this level the price supported and bounced back.
Scenario 1:
Stock can take support at its trendline and continue to be in an uptrend which will make this trendline further stronger.
Scenario 2:
Stock can break down its trendline and continue to be in a downtrend for some more time.
This post is for educational purposes and not any recommendation. Kindly do your research or take help from a financial advisor before taking any investment decision.
Mr_Financial_Literate